ARRY: BlackRock Files 13G/A

Because they missed the boat. (They downgrade the stock but upgrade the price target? Whoops analyst, your price target is a little late!). From Schaeffer's Investment Research:


"Downgrade Drops Array Biopharma



ARRY has sunk 7% to $10.41, after Leerink downgraded its rating to "market perform" from "outperform," but raised its price target to $11 from $9. Nonetheless, the stock has blasted off since late September, nearly tripling in value. Perhaps that explains why short-term options traders are extremely call-skewed, based on ARRY's Schaeffer's put/call open interest ratio (SOIR) of 0.07 -- registering below 98% of all readings from the past year. Similar optimism is echoed by analysts, today notwithstanding." 

We have had a lot of these "Time to buy more" over the last 5+ years with both ARRY and OPK.

It would be nice to have "Time to take your ten bagger profits off the table."

Part of life in the market.

1/30/2017 Leerink Swann Downgrade Outperform -> Market Perform $11.00 View Rating Details
1/17/2017 Piper Jaffray Companies Set Price Target Buy $15.00 View Rating Details
11/11/2016 Jefferies Group LLC Reiterated Rating Buy $8.00 View Rating Details
11/4/2016 Cowen and Company Initiated Coverage Outperform $10.00 -> $10.00 View Rating Details
9/27/2016 J P Morgan Chase & Co Reiterated Rating Overweight $6.00 -> $8.00 View Rating Details
9/26/2016 Cantor Fitzgerald Reiterated Rating Buy $13.00 View Rating Details
8/5/2016 Stifel Nicolaus Boost Price Target Buy $7.00 -> $8.00 View Rating Details
6/2/2016 SunTrust Banks, Inc. Initiated Coverage Buy $7.00

So Leerink raises their 9 prices target to 11, cause ARRY had blown past their target. So it is market perform NOW? I guess that means no upside for biotech if 11 is perform. On the Piper upgrade to 15 Arry did not rocket up but got a fifty cent pop that faded. Today, one would think there is a ton of volume, there is not. So yah a gap down, but looks like it recovers in the near future. IF JPM or Nicolaus upgrade to 15, it likely would run, but for now it is a hold, and likely to get back to 11.

ALL these games to get your cash.


JB