Carrie Smith Cox Acquires 3,000 Shares of Array Biopharma Inc (ARRY) Stock

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Array Biopharma Inc (NASDAQ:ARRY) Director Carrie Smith Cox bought 3,000 shares of the stock in a transaction dated Thursday, November 1st. The stock was purchased at an average price of $16.87 per share, with a total value of $50,610.00. Following the acquisition, the director now directly owns 3,000 shares in the company, valued at approximately $50,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ARRY stock opened at $16.77 on Wednesday. Array Biopharma Inc has a 12 month low of $10.21 and a 12 month high of $20.21. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 0.60.

Array Biopharma (NASDAQ:ARRY) last posted its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($0.12) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.10. The company had revenue of $56.91 million for the quarter, compared to the consensus estimate of $34.47 million. Array Biopharma had a negative net margin of 66.77% and a negative return on equity of 74.02%. The firm’s revenue was up 91.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.22) EPS. On average, analysts predict that Array Biopharma Inc will post -0.65 earnings per share for the current fiscal year.

ARRY has been the subject of several analyst reports. Cowen set a $22.00 target price on shares of Array Biopharma and gave the stock a “buy” rating in a report on Wednesday, October 31st. Guggenheim initiated coverage on shares of Array Biopharma in a report on Monday, September 17th. They issued a “buy” rating for the company. Zacks Investment Research upgraded shares of Array Biopharma from a “sell” rating to a “hold” rating in a report on Friday, August 17th. Finally, BidaskClub upgraded shares of Array Biopharma from a “sell” rating to a “hold” rating in a report on Wednesday, September 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $22.44.

A number of hedge funds have recently bought and sold shares of ARRY. Ladenburg Thalmann Financial Services Inc. increased its stake in Array Biopharma by 107.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,614 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 4,470 shares during the period. Royal Bank of Canada increased its stake in Array Biopharma by 266.7% in the 1st quarter. Royal Bank of Canada now owns 12,874 shares of the biopharmaceutical company’s stock worth $211,000 after buying an additional 9,363 shares during the period. Xact Kapitalforvaltning AB increased its stake in Array Biopharma by 39.5% in the 1st quarter. Xact Kapitalforvaltning AB now owns 25,778 shares of the biopharmaceutical company’s stock worth $421,000 after buying an additional 7,300 shares during the period. Brown Advisory Inc. purchased a new position in Array Biopharma in the 1st quarter worth about $354,000. Finally, Financial & Investment Management Group Ltd. increased its stake in Array Biopharma by 64.8% in the 2nd quarter. Financial & Investment Management Group Ltd. now owns 222,053 shares of the biopharmaceutical company’s stock worth $3,726,000 after buying an additional 87,302 shares during the period. 92.56% of the stock is currently owned by institutional investors.

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Array Biopharma Company Profile

Array BioPharma Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer and other diseases in North America, Europe, and the Asia Pacific. It provides BRAFTOVITM (encorafenib) capsules in combination with MEKTOVI (binimetinib) tablets for the treatment of patients with unresectable or metastatic melanoma with a BRAF mutation.

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