FRO, PTGX, ARRY Stocks In the News Today

Frontline stock is higher after earnings

May 30, 2017 at 10:15 AM
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The Dow is trading lower to start the holiday-shortened week on a negative note. Among specific stocks on the move are oil shipping company Frontline Ltd. (NYSE:FRO), as well as drugmakers Protagonist Therapeutics Inc (NASDAQ:PTGX) and Array Biopharma (NASDAQ:ARRY). Here's a quick look at what's moving shares of FRO, PTGX, and ARRY. 

FRO Stock Lower After Earnings

Frontline stock is down 0.9% at $5.57, after the company's first-quarter earnings missed forecasts. This comes after the stock hit an all-time low of $5.48 on Friday. In fact, FRO shares have shed roughly 37% over the past 12 months. Still, Clarksons Platou reiterated its "buy" recommendation -- the only brokerage firm to issue such a rating. The other three analysts tracking Frontline give it just a "hold" rating. 

PTGX Shares Skyrocket on JNJ Deal

Protagonist Therapeutics stock is the best performer on the Nasdaq so far, up 46.8% at $12.07, thanks to news of a collaboration with Johnson & Johnson (NYSE:JNJ) to develop a bowel drug. The shares had been falling fast since topping out above $26 in December, and they're now trading at levels not seen since early April. Meanwhile, short interest on PTGX stock rose by 12.2% in the last two reporting periods, so some bears may be hurting today. 

Bristol-Myers Collaboration Fails to Lift ARRY Stock

Array Biopharma stock is also trading lower, on news the company will collaborate with Bristol-Myers Squibb for a colorectal cancer treatment. ARRY shares were last seen down 1% at $8.08, as they continue to bounce between the $8 and $8.50 levels -- home to their 200-day 50-day moving averages, respectively. ARRY stock has the strong backing of the analyst community, though, with eight of nine brokerages saying it's a "strong buy." 

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