Alliancebernstein L.P. boosted its holdings in Array Biopharma Inc (NASDAQ:ARRY) by 57.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 682,749 shares of the biopharmaceutical company’s stock after purchasing an additional 250,000 shares during the quarter. Alliancebernstein L.P. owned about 0.32% of Array Biopharma worth $10,378,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Swiss National Bank boosted its position in Array Biopharma by 1.6% in the third quarter. Swiss National Bank now owns 349,000 shares of the biopharmaceutical company’s stock worth $5,305,000 after purchasing an additional 5,600 shares during the last quarter. Prudential Financial Inc. boosted its position in Array Biopharma by 25.3% in the third quarter. Prudential Financial Inc. now owns 246,627 shares of the biopharmaceutical company’s stock worth $3,749,000 after purchasing an additional 49,790 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in Array Biopharma by 80.2% in the third quarter. Candriam Luxembourg S.C.A. now owns 1,351,188 shares of the biopharmaceutical company’s stock worth $20,538,000 after purchasing an additional 601,300 shares during the last quarter. IFG Advisory LLC boosted its position in Array Biopharma by 14.5% in the third quarter. IFG Advisory LLC now owns 48,325 shares of the biopharmaceutical company’s stock worth $734,000 after purchasing an additional 6,132 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its position in Array Biopharma by 25.0% in the third quarter. WINTON GROUP Ltd now owns 26,889 shares of the biopharmaceutical company’s stock worth $409,000 after purchasing an additional 5,385 shares during the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.
Shares of ARRY opened at $15.21 on Friday. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of -20.84 and a beta of 1.06. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.62 and a current ratio of 5.62. Array Biopharma Inc has a 1 year low of $10.53 and a 1 year high of $20.21.
Array Biopharma (NASDAQ:ARRY) last issued its earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.10. The firm had revenue of $56.91 million for the quarter, compared to analyst estimates of $34.47 million. Array Biopharma had a negative return on equity of 74.02% and a negative net margin of 66.77%. The business’s revenue was up 91.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.22) earnings per share. Research analysts anticipate that Array Biopharma Inc will post -0.65 earnings per share for the current fiscal year.
In other Array Biopharma news, Director Lunsen Gil J. Van sold 18,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $14.76, for a total value of $265,680.00. Following the sale, the director now directly owns 37,297 shares in the company, valued at $550,503.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carrie Smith Cox bought 3,000 shares of the stock in a transaction on Thursday, November 1st. The stock was purchased at an average price of $16.87 per share, for a total transaction of $50,610.00. Following the completion of the purchase, the director now owns 3,000 shares of the company’s stock, valued at $50,610. The disclosure for this purchase can be found here. Insiders own 2.10% of the company’s stock.
Several research analysts have weighed in on the company. Cowen set a $22.00 price objective on Array Biopharma and gave the stock a “buy” rating in a research report on Wednesday, October 31st. BidaskClub raised Array Biopharma from a “sell” rating to a “hold” rating in a research report on Wednesday, September 5th. Zacks Investment Research upgraded Array Biopharma from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. Finally, Guggenheim started coverage on Array Biopharma in a research note on Monday, September 17th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $22.44.
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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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