Piper Jaffray analyst Edward Tenthoff reiterated an Overweight rating and $25 price target for Array BioPharma following the company’s Q4 results, telling investors in a research note that he is “surprised” to see shares trading lower today on a “perceived” revenue miss. Tenthoff, who notes that revenues in Q4 were only reimbursement and milestones from partners, says he is a buyer for the Braftovi and Mektovi launch in BRAF-mutant melanoma, which occurred the week of July 2, and projects initial sales of $17.2M in calendar 2018 and $71.5M in calendar 2019.
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