ClariVest Asset Management LLC boosted its holdings in shares of Array Biopharma Inc (NASDAQ:ARRY) by 27.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 227,078 shares of the biopharmaceutical company’s stock after buying an additional 48,479 shares during the quarter. ClariVest Asset Management LLC owned 0.11% of Array Biopharma worth $3,235,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC raised its position in Array Biopharma by 11.1% during the 3rd quarter. FMR LLC now owns 27,101,636 shares of the biopharmaceutical company’s stock worth $411,945,000 after buying an additional 2,711,240 shares during the last quarter. BlackRock Inc. raised its position in Array Biopharma by 1.2% during the 3rd quarter. BlackRock Inc. now owns 17,121,252 shares of the biopharmaceutical company’s stock worth $260,243,000 after buying an additional 201,556 shares during the last quarter. American Century Companies Inc. raised its position in Array Biopharma by 19.4% during the 3rd quarter. American Century Companies Inc. now owns 3,116,886 shares of the biopharmaceutical company’s stock worth $47,377,000 after buying an additional 506,146 shares during the last quarter. Northern Trust Corp raised its position in Array Biopharma by 4.4% during the 2nd quarter. Northern Trust Corp now owns 2,524,664 shares of the biopharmaceutical company’s stock worth $42,364,000 after buying an additional 105,314 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Array Biopharma by 13.4% during the 3rd quarter. Wells Fargo & Company MN now owns 2,484,662 shares of the biopharmaceutical company’s stock worth $37,766,000 after buying an additional 292,749 shares during the last quarter. 95.14% of the stock is owned by institutional investors.
In related news, CEO Ron Squarer sold 110,000 shares of Array Biopharma stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $21.64, for a total value of $2,380,400.00. Following the sale, the chief executive officer now owns 348,709 shares of the company’s stock, valued at approximately $7,546,062.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victor Sandor sold 6,268 shares of Array Biopharma stock in a transaction on Thursday, December 27th. The shares were sold at an average price of $14.05, for a total transaction of $88,065.40. The disclosure for this sale can be found here. Insiders sold a total of 1,084,761 shares of company stock worth $21,452,310 in the last three months. 2.10% of the stock is owned by corporate insiders.
A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Array Biopharma from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Wednesday. Cowen set a $22.00 price objective on shares of Array Biopharma and gave the stock a “buy” rating in a research note on Wednesday, October 31st. BidaskClub raised shares of Array Biopharma from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 8th. Piper Jaffray Companies reaffirmed a “positive” rating and set a $28.00 price objective on shares of Array Biopharma in a research note on Tuesday, January 15th. Finally, Cantor Fitzgerald set a $30.00 price objective on shares of Array Biopharma and gave the stock a “buy” rating in a research note on Tuesday, February 5th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $26.22.
Shares of NASDAQ ARRY opened at $21.22 on Thursday. The company has a market cap of $4.65 billion, a PE ratio of -29.07 and a beta of 1.37. Array Biopharma Inc has a 12 month low of $12.56 and a 12 month high of $22.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.31 and a current ratio of 6.31.
Array Biopharma (NASDAQ:ARRY) last issued its quarterly earnings data on Tuesday, February 5th. The biopharmaceutical company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.11. The business had revenue of $82.55 million for the quarter, compared to analysts’ expectations of $52.44 million. Array Biopharma had a negative net margin of 46.20% and a negative return on equity of 44.37%. The business’s revenue was up 95.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.17) EPS. As a group, analysts forecast that Array Biopharma Inc will post -0.6 EPS for the current fiscal year.
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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 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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