Traders Purchase High Volume of Array BioPharma Call Options (ARRY)
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.
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.
TRADEMARK VIOLATION WARNING: This piece was first posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/12/traders-purchase-high-volume-of-array-biopharma-call-options-arry.html.
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).
Receive News & Ratings for Array BioPharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Array BioPharma and related companies with MarketBeat.com's FREE daily email newsletter.