Quick Win by the Algorithm

On October 23, 2016 the I Know First Algorithm had predicted a bullish forecast for Array BioPharma Inc. (ARRY). ARRY had a signal of 156.45 and a predictability of 0.34. In accordance with the algorithm, the company reported long-position capital gains of 74.30% experiencing a quick win by the algorithm.

Array BioPharma Inc. (ARRY), is a biopharmaceutical company founded in 1998 and headquartered in Boulder, Colorado. ARRY provides drug discovery products and services to create, evaluate, and optimize potential drug candidates in collaboration with pharmaceutical and other biotechnology companies.  The company is in partnership with other companies in drug development, such as: Genetech, Pierre Fabre, and AstraZeneca.

In the biopharmaceutical sector, a company’s stock can be volatile during their drugs test phase. After regaining the rights to the drug, binimetinib, the FDA accepted ARRY’s binimetinib New Drug Application.  During the past 3 months, the drug has resulted in favorable test developments.  Tests reveals a higher chance of progression-free survival benefit over chemotherapy. In addition, the drug has also shown to have a higher chance of progression- free survival over its competitor, Roche’s Zelboraf.  Moreover, these favorable results could propel the stock to further growth.

The company will report its fourth quarter earnings on February 7, 2017.

This bullish forecast on ARRY was sent to current I Know First subscribers on October 23, 2016. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

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