Company

Bank

Analyst

Coverage

Opinion

Wk chg

8/17 cls

Array BioPharma Inc. (NASDAQ:ARRY)

Leerink

Howard Liang

Upgrade

Outperform (from market perform)

21%

$5.50

Liang also raised his target to $8 from $4 on "promising" Phase II data for MEK inhibitors selumetinib and MEK126 (formerly ARRY-162). In May, Array reported Phase II data in patients with mutant K-Ras(KRAS) locally advanced or metastatic non-small cell lung cancer (NSCLC), showing that second-line treatment with selumetinib plus docetaxel improved overall survival (OS) vs. placebo plus docetaxel. Array concurrently reported Phase II data in 29 malignant cutaneous melanoma patients with BRAF V600E mutations showing that MEK162 produced one confirmed partial response (PR), six unconfirmed PRs and nine cases of stable disease (see BioCentury, May 21). Selumetinib is partnered with AstraZeneca plc (LSE:AZN; NYSE:AZN), while MEK162 is partnered with Novartis AG (NYSE:NVS; SIX:NOVN).

Elan Corp. plc (NYSE:ELN)

Jefferies

Corey Davis

Price target

Buy

6%

$11.72