Insider Selling: Array Biopharma Inc (ARRY) Insider Sells $148,986.06 in Stock

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Array Biopharma Inc (NASDAQ:ARRY) insider Victor Sandor sold 9,687 shares of Array Biopharma stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $15.38, for a total value of $148,986.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Victor Sandor also recently made the following trade(s):

  • On Tuesday, June 19th, Victor Sandor sold 77,576 shares of Array Biopharma stock. The shares were sold at an average price of $18.76, for a total value of $1,455,325.76.
  • On Wednesday, June 13th, Victor Sandor sold 22,424 shares of Array Biopharma stock. The shares were sold at an average price of $18.75, for a total value of $420,450.00.

Array Biopharma stock opened at $14.48 on Friday. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -19.84 and a beta of 1.13. Array Biopharma Inc has a 12 month low of $9.60 and a 12 month high of $20.21. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.71 and a quick ratio of 4.71.

Array Biopharma (NASDAQ:ARRY) last posted its earnings results on Tuesday, August 14th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.01). The business had revenue of $35.40 million during the quarter, compared to the consensus estimate of $38.73 million. Array Biopharma had a negative return on equity of 80.54% and a negative net margin of 84.79%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.17) EPS. equities research analysts forecast that Array Biopharma Inc will post -0.72 earnings per share for the current year.

A number of research analysts have issued reports on ARRY shares. BidaskClub cut Array Biopharma from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. Zacks Investment Research upgraded Array Biopharma from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Wells Fargo & Co lifted their price objective on Array Biopharma from $31.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, June 28th. Cantor Fitzgerald reiterated a “buy” rating and set a $26.00 price objective (up previously from $24.00) on shares of Array Biopharma in a research note on Sunday, June 24th. Finally, Piper Jaffray Companies lifted their price objective on Array Biopharma from $21.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, June 27th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $20.90.

Several institutional investors have recently bought and sold shares of ARRY. Farallon Capital Management LLC bought a new stake in shares of Array Biopharma in the 1st quarter worth $50,510,000. Morgan Stanley increased its holdings in shares of Array Biopharma by 127.7% in the 2nd quarter. Morgan Stanley now owns 3,578,476 shares of the biopharmaceutical company’s stock worth $60,048,000 after purchasing an additional 2,006,894 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Array Biopharma in the 1st quarter worth $25,922,000. BlackRock Inc. increased its holdings in shares of Array Biopharma by 6.1% in the 2nd quarter. BlackRock Inc. now owns 16,919,696 shares of the biopharmaceutical company’s stock worth $283,912,000 after purchasing an additional 970,259 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of Array Biopharma by 84.1% in the 2nd quarter. Voya Investment Management LLC now owns 1,999,490 shares of the biopharmaceutical company’s stock worth $33,551,000 after purchasing an additional 913,479 shares in the last quarter. 92.38% of the stock is owned by institutional investors and hedge funds.

About Array Biopharma

Array BioPharma Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer in North America, Europe, and the Asia Pacific. The company's drugs in Phase III clinical trials include Binimetinib, Encorafenib, Selumetinib, and Ipatasertib/GDC-0068 for the treatment of cancer, as well as ASC08/Danoprevir to treat hepatitis C virus.

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