Rhumbline Advisers increased its stake in shares of Array Biopharma Inc (NASDAQ:ARRY) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,956 shares of the biopharmaceutical company’s stock after acquiring an additional 7,178 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Array Biopharma worth $3,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of ARRY. Farallon Capital Management LLC bought a new position in Array Biopharma during the 1st quarter worth approximately $50,510,000. American Century Companies Inc. bought a new stake in shares of Array Biopharma in the 1st quarter worth approximately $25,922,000. Columbus Circle Investors grew its position in shares of Array Biopharma by 283.9% in the 1st quarter. Columbus Circle Investors now owns 1,133,732 shares of the biopharmaceutical company’s stock worth $18,503,000 after buying an additional 838,412 shares during the last quarter. Neuberger Berman Group LLC grew its position in shares of Array Biopharma by 746.9% in the 1st quarter. Neuberger Berman Group LLC now owns 810,725 shares of the biopharmaceutical company’s stock worth $13,231,000 after buying an additional 715,000 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Array Biopharma by 4.6% in the 1st quarter. BlackRock Inc. now owns 15,949,437 shares of the biopharmaceutical company’s stock worth $260,295,000 after buying an additional 696,635 shares during the last quarter. Institutional investors and hedge funds own 92.38% of the company’s stock.
A number of brokerages have recently weighed in on ARRY. BidaskClub upgraded Array Biopharma from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research upgraded Array Biopharma from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. Wells Fargo & Co lifted their price objective on Array Biopharma from $31.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, June 28th. Piper Jaffray Companies lifted their price objective on Array Biopharma from $21.00 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 27th. Finally, SunTrust Banks lifted their price objective on Array Biopharma to $25.00 and gave the stock a “buy” rating in a research report on Monday, June 25th. Two investment 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 a consensus rating of “Buy” and an average target price of $20.90.
ARRY opened at $14.48 on Friday. The company has a market capitalization of $3.17 billion, a PE ratio of -19.84 and a beta of 1.13. 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 Inc has a 52 week low of $9.60 and a 52 week high of $20.21.
Array Biopharma (NASDAQ:ARRY) last released 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 firm had revenue of $35.40 million during the quarter, compared to analysts’ expectations of $38.73 million. Array Biopharma had a negative net margin of 84.79% and a negative return on equity of 80.54%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) EPS. research analysts expect that Array Biopharma Inc will post -0.72 earnings per share for the current fiscal year.
In other news, insider Victor Sandor sold 9,687 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $15.38, for a total value of $148,986.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lunsen Gil J. Van sold 21,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $19.08, for a total value of $410,220.00. Following the completion of the transaction, the director now owns 26,797 shares of the company’s stock, valued at approximately $511,286.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 449,904 shares of company stock valued at $7,941,537. 3.18% of the stock is currently owned by company insiders.
Array Biopharma Profile
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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