Array BioPharma Inc. (ARRY) Director Charles M. Baum Sells 50,000 Shares

Array BioPharma Inc. (NASDAQ:ARRY) Director Charles M. Baum sold 50,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $16.90, for a total transaction of $845,000.00. Following the completion of the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at $591,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Array BioPharma Inc. (NASDAQ:ARRY) traded up $0.53 during trading on Monday, hitting $17.56. 5,094,794 shares of the stock were exchanged, compared to its average volume of 5,114,577. Array BioPharma Inc. has a one year low of $6.73 and a one year high of $18.24. The company has a debt-to-equity ratio of 0.39, a quick ratio of 6.17 and a current ratio of 6.17. The firm has a market cap of $3,536.05, a P/E ratio of -22.81 and a beta of 2.04.

Array BioPharma (NASDAQ:ARRY) last posted its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.06. Array BioPharma had a negative net margin of 98.51% and a negative return on equity of 107.79%. The company had revenue of $42.21 million during the quarter, compared to the consensus estimate of $26.81 million. During the same period in the prior year, the business posted ($0.14) EPS. The company’s quarterly revenue was down 5.2% on a year-over-year basis. analysts expect that Array BioPharma Inc. will post -0.9 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Array BioPharma by 70.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,244 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 3,834 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in 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 purchasing an additional 1,012 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in Array BioPharma in the 3rd quarter valued at about $146,000. Raymond James Financial Services Advisors Inc. lifted its stake in Array BioPharma by 71.9% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 18,317 shares of the biopharmaceutical company’s stock valued at $153,000 after purchasing an additional 7,661 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in 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 purchasing an additional 1,580 shares during the last quarter. Institutional investors own 92.92% of the company’s stock.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Array BioPharma from a “sell” rating to a “hold” rating in a research note on Friday. Leerink Swann upped their target price on shares of Array BioPharma from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Stifel Nicolaus upped their target price on shares of Array BioPharma from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. SunTrust Banks reaffirmed a “buy” rating and issued a $20.00 target price on shares of Array BioPharma in a research note on Tuesday, February 6th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $15.00 target price on shares of Array BioPharma in a research note on Sunday, January 21st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Array BioPharma has an average rating of “Buy” and a consensus price target of $16.43.

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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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