BB&T Securities LLC lessened its holdings in shares of Array Biopharma Inc (NASDAQ:ARRY) by 8.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,100 shares of the biopharmaceutical company’s stock after selling 17,000 shares during the period. BB&T Securities LLC owned 0.08% of Array Biopharma worth $2,495,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. FMR LLC boosted its holdings in shares of Array Biopharma by 11.1% in the third quarter. FMR LLC now owns 27,101,636 shares of the biopharmaceutical company’s stock valued at $411,945,000 after acquiring an additional 2,711,240 shares in the last quarter. BlackRock Inc. lifted its position in Array Biopharma by 1.2% in the third quarter. BlackRock Inc. now owns 17,121,252 shares of the biopharmaceutical company’s stock worth $260,243,000 after purchasing an additional 201,556 shares during the period. American Century Companies Inc. raised its holdings in shares of Array Biopharma by 19.4% in the third quarter. American Century Companies Inc. now owns 3,116,886 shares of the biopharmaceutical company’s stock valued at $47,377,000 after buying an additional 506,146 shares during the last quarter. Northern Trust Corp grew its position in shares of Array Biopharma by 4.4% in the 2nd quarter. Northern Trust Corp now owns 2,524,664 shares of the biopharmaceutical company’s stock valued at $42,364,000 after purchasing an additional 105,314 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Array Biopharma by 13.4% during the 3rd quarter. Wells Fargo & Company MN now owns 2,484,662 shares of the biopharmaceutical company’s stock worth $37,766,000 after purchasing an additional 292,749 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.
Array Biopharma stock opened at $21.22 on Thursday. The company has a market capitalization of $4.65 billion, a P/E ratio of -29.07 and a beta of 1.37. Array Biopharma Inc has a fifty-two week low of $12.56 and a fifty-two week high of $22.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 6.31 and a quick ratio of 6.31.
Array Biopharma (NASDAQ:ARRY) last released its quarterly earnings data on Tuesday, February 5th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.11. The company had revenue of $82.55 million during the quarter, compared to analyst estimates of $52.44 million. Array Biopharma had a negative net margin of 46.20% and a negative return on equity of 44.37%. The business’s quarterly revenue was up 95.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) earnings per share. On average, sell-side analysts expect that Array Biopharma Inc will post -0.6 EPS for the current year.
In related news, insider Victor Sandor sold 115,185 shares of Array Biopharma stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $16.21, for a total value of $1,867,148.85. Following the transaction, the insider now directly owns 337,483 shares of the company’s stock, valued at $5,470,599.43. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Curtis Gale Oltmans sold 19,720 shares of the business’s stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $18.06, for a total value of $356,143.20. Following the sale, the general counsel now owns 23,641 shares of the company’s stock, valued at approximately $426,956.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,084,761 shares of company stock worth $21,452,310. 2.10% of the stock is owned by corporate insiders.
Several research analysts recently issued reports on the company. BidaskClub raised Array Biopharma from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 18th. Cowen set a $22.00 target price on Array Biopharma and gave the company a “buy” rating in a research report on Wednesday, October 31st. Zacks Investment Research raised shares of Array Biopharma from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Stifel Nicolaus increased their price objective on shares of Array Biopharma from $24.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, December 12th. Finally, Goldman Sachs Group initiated coverage on shares of Array Biopharma in a research note on Thursday, December 13th. They set a “neutral” rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $26.22.
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Array Biopharma Company 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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