Lunsen Gil J. Van Sells 21,500 Shares of Array BioPharma Inc. (ARRY) Stock

Array BioPharma Inc. (NASDAQ:ARRY) Director Lunsen Gil J. Van sold 21,500 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $12.94, for a total value of $278,210.00. Following the transaction, the director now directly owns 34,297 shares in the company, valued at $443,803.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Array BioPharma Inc. (NASDAQ ARRY) traded up $0.23 during midday trading on Wednesday, hitting $13.20. The company had a trading volume of 4,508,656 shares, compared to its average volume of 3,875,173. The company has a debt-to-equity ratio of 0.54, a quick ratio of 5.43 and a current ratio of 5.43. Array BioPharma Inc. has a 52-week low of $6.73 and a 52-week high of $14.40. The firm has a market cap of $2,600.00, a P/E ratio of -17.84 and a beta of 1.91.

Array BioPharma (NASDAQ:ARRY) last released its earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $29.75 million for the quarter, compared to the consensus estimate of $33.74 million. During the same period in the prior year, the firm earned ($0.20) EPS. The firm’s revenue was down 24.2% on a year-over-year basis. sell-side analysts predict that Array BioPharma Inc. will post -0.99 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. increased its position in shares of Array BioPharma by 7.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 15,148 shares of the biopharmaceutical company’s stock valued at $127,000 after acquiring an additional 1,012 shares during the period. Amalgamated Bank increased its position in shares of Array BioPharma by 5.6% in the 2nd quarter. Amalgamated Bank now owns 22,141 shares of the biopharmaceutical company’s stock valued at $185,000 after acquiring an additional 1,174 shares during the period. Prudential Financial Inc. increased its position in shares of Array BioPharma by 9.1% in the 2nd quarter. Prudential Financial Inc. now owns 18,957 shares of the biopharmaceutical company’s stock valued at $159,000 after acquiring an additional 1,580 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Array BioPharma by 3.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 132,865 shares of the biopharmaceutical company’s stock valued at $1,112,000 after acquiring an additional 4,287 shares during the period. Finally, First Light Asset Management LLC boosted its holdings in Array BioPharma by 0.9% in the second quarter. First Light Asset Management LLC now owns 571,629 shares of the biopharmaceutical company’s stock valued at $4,785,000 after purchasing an additional 5,297 shares during the last quarter. 98.13% of the stock is currently owned by hedge funds and other institutional investors.

ARRY has been the topic of a number of recent analyst 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 reaffirmed a “buy” rating and set a $16.00 price target on shares of Array BioPharma in a research report on Wednesday, November 1st. Zacks Investment Research downgraded Array BioPharma from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Jefferies Group upped their price target on Array BioPharma to $13.00 and gave the stock a “buy” rating in a research report on Friday, December 22nd. Finally, BidaskClub raised Array BioPharma from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $14.10.

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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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