Array BioPharma initiated at Leerink

Array BioPharma initiated with an Outperform at Leerink. Leerink analyst Thomas Smith started Array BioPharma with an Outperform rating and $28 price target. The analyst sees Braftovi and Mektovi as a best-in-class combination launching into a $1B global market for the treatment of BRAF+ melanoma, with near-term potential to expand into BRAF+ colorectal cancer, where there is limited competition. Smith also sees a favorable catalyst path for shares through 2019, and believes the company is well-positioned to benefit from the recent resurgence of M&A in the targeted oncology sector.
https://thefly.com/landingPageNews.php?id=2850153