Array BioPharma Inc. (NASDAQ:ARRY) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 26,569 call options on the stock. This is an increase of 3,926% compared to the average daily volume of 660 call options.

ARRY has been the subject of several recent research reports. Cantor Fitzgerald set a $15.00 price target on Array BioPharma and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. SunTrust Banks restated a “buy” rating and set a $16.00 price objective on shares of Array BioPharma in a report on Wednesday, November 1st. Zacks Investment Research cut Array BioPharma from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Jefferies Group raised their price objective on Array BioPharma to $13.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. Finally, BidaskClub upgraded Array BioPharma from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $14.10.

In other Array BioPharma news, COO Andrew R. Robbins sold 282,874 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $10.72, for a total transaction of $3,032,409.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ron Squarer sold 819,671 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $10.86, for a total value of $8,901,627.06. The disclosure for this sale can be found here. Company insiders own 3.18% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. boosted its holdings in Array BioPharma by 274.4% in the third quarter. Point72 Asset Management L.P. now owns 9,008,999 shares of the biopharmaceutical company’s stock valued at $110,811,000 after acquiring an additional 6,602,999 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Array BioPharma by 48.4% in the second quarter. Franklin Resources Inc. now owns 8,950,982 shares of the biopharmaceutical company’s stock valued at $74,920,000 after acquiring an additional 2,918,156 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Array BioPharma by 15.5% in the second quarter. Vanguard Group Inc. now owns 19,622,890 shares of the biopharmaceutical company’s stock valued at $164,243,000 after acquiring an additional 2,629,475 shares during the last quarter. State Street Corp boosted its holdings in Array BioPharma by 15.5% in the second quarter. State Street Corp now owns 9,544,525 shares of the biopharmaceutical company’s stock valued at $79,890,000 after acquiring an additional 1,279,750 shares during the last quarter. Finally, 683 Capital Management LLC acquired a new position in Array BioPharma in the third quarter valued at $6,150,000. Institutional investors and hedge funds own 98.13% of the company’s stock.

Shares of Array BioPharma (NASDAQ:ARRY) opened at $13.95 on Friday. Array BioPharma has a fifty-two week low of $6.73 and a fifty-two week high of $14.40. The company has a current ratio of 5.43, a quick ratio of 5.43 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2,750.00, a price-to-earnings ratio of -18.85 and a beta of 1.91.

Array BioPharma (NASDAQ:ARRY) last posted its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.22). Array BioPharma had a negative return on equity of 158.70% and a negative net margin of 89.30%. The business had revenue of $29.75 million for the quarter, compared to analysts’ expectations of $33.74 million. During the same quarter last year, the firm earned ($0.20) earnings per share. The business’s revenue was down 24.2% on a year-over-year basis. research analysts expect that Array BioPharma will post -0.99 EPS for the current fiscal year.

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Array BioPharma Company Profile

Array BioPharma Inc is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. The Company’s programs include approximately three cancer drugs, binimetinib, encorafenib and selumetinib (partnered with AstraZeneca, PLC).

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