Man Group plc bought a new position in shares of Array Biopharma Inc (NASDAQ:ARRY) in the third quarter, HoldingsChannel reports. The firm bought 124,329 shares of the biopharmaceutical company’s stock, valued at approximately $1,890,000.
A number of other institutional investors also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. lifted its holdings in Array Biopharma by 41.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 16,128 shares of the biopharmaceutical company’s stock worth $245,000 after buying an additional 4,746 shares during the period. WINTON GROUP Ltd lifted its holdings in Array Biopharma by 25.0% during the third quarter. WINTON GROUP Ltd now owns 26,889 shares of the biopharmaceutical company’s stock worth $409,000 after buying an additional 5,385 shares during the period. Swiss National Bank lifted its holdings in Array Biopharma by 1.6% during the third quarter. Swiss National Bank now owns 349,000 shares of the biopharmaceutical company’s stock worth $5,305,000 after buying an additional 5,600 shares during the period. IFG Advisory LLC lifted its holdings in Array Biopharma by 14.5% during the third quarter. IFG Advisory LLC now owns 48,325 shares of the biopharmaceutical company’s stock worth $734,000 after buying an additional 6,132 shares during the period. Finally, Smith Asset Management Group LP lifted its holdings in Array Biopharma by 36.1% during the third quarter. Smith Asset Management Group LP now owns 27,920 shares of the biopharmaceutical company’s stock worth $424,000 after buying an additional 7,400 shares during the period. Institutional investors own 94.88% of the company’s stock.
Shares of ARRY stock opened at $17.71 on Friday. The firm has a market cap of $3.68 billion, a PE ratio of -24.26 and a beta of 1.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.62 and a current ratio of 5.62. Array Biopharma Inc has a 12-month low of $12.56 and a 12-month high of $20.21.
Array Biopharma (NASDAQ:ARRY) last issued its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.10. The business had revenue of $56.91 million for the quarter, compared to the consensus estimate of $34.47 million. Array Biopharma had a negative return on equity of 74.02% and a negative net margin of 66.77%. The business’s quarterly revenue was up 91.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.22) earnings per share. On average, analysts predict that Array Biopharma Inc will post -0.65 earnings per share for the current year.
In other news, insider Victor Sandor sold 6,268 shares of the company’s stock in a transaction on Thursday, December 27th. The stock was sold at an average price of $14.05, for a total transaction of $88,065.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Carrie Smith Cox purchased 3,000 shares of Array Biopharma stock in a transaction dated Thursday, November 1st. The shares were acquired at an average cost of $16.87 per share, for a total transaction of $50,610.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $50,610. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 127,721 shares of company stock worth $2,043,280. Insiders own 2.10% of the company’s stock.
A number of analysts have weighed in on ARRY shares. BidaskClub upgraded Array Biopharma from a “hold” rating to a “buy” rating in a report on Wednesday. Cowen set a $22.00 target price on Array Biopharma and gave the stock a “buy” rating in a report on Wednesday, October 31st. Guggenheim began coverage on Array Biopharma in a report on Monday, September 17th. They set a “buy” rating for the company. Stifel Nicolaus upped their price target on Array Biopharma from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, December 12th. Finally, Zacks Investment Research raised Array Biopharma from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $23.67.
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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