BlackRock Inc. decreased its position in Array Biopharma Inc (NASDAQ:ARRY) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,962,200 shares of the biopharmaceutical company’s stock after selling 159,052 shares during the quarter. BlackRock Inc. owned approximately 7.77% of Array Biopharma worth $241,710,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in ARRY. Sector Gamma AS bought a new position in Array Biopharma during the third quarter worth $5,078,000. Fosun International Ltd bought a new position in Array Biopharma during the third quarter worth $6,348,000. Birchview Capital LP increased its position in Array Biopharma by 31.3% during the fourth quarter. Birchview Capital LP now owns 168,000 shares of the biopharmaceutical company’s stock worth $2,394,000 after acquiring an additional 40,000 shares during the period. Trexquant Investment LP bought a new position in Array Biopharma during the third quarter worth $1,859,000. Finally, Macquarie Group Ltd. increased its position in Array Biopharma by 8.9% during the third quarter. Macquarie Group Ltd. now owns 1,012,837 shares of the biopharmaceutical company’s stock worth $15,395,000 after acquiring an additional 83,159 shares during the period. 97.09% of the stock is currently owned by institutional investors.
In other Array Biopharma news, insider Victor Sandor sold 6,268 shares of the business’s stock in a transaction on Thursday, December 27th. The shares were sold at an average price of $14.05, for a total value of $88,065.40. Following the sale, the insider now owns 228,998 shares of the company’s stock, valued at approximately $3,217,421.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Andrew R. Robbins sold 239,626 shares of the business’s stock in a transaction on Wednesday, February 6th. The shares were sold at an average price of $20.03, for a total transaction of $4,799,708.78. Following the completion of the sale, the chief operating officer now directly owns 212,120 shares in the company, valued at approximately $4,248,763.60. The disclosure for this sale can be found here. Insiders sold a total of 969,576 shares of company stock worth $19,585,161 in the last three months. Insiders own 2.10% of the company’s stock.
Shares of Array Biopharma stock opened at $23.64 on Friday. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of -32.38 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.31 and a current ratio of 6.31. Array Biopharma Inc has a 52-week low of $12.56 and a 52-week high of $24.56.
Array Biopharma (NASDAQ:ARRY) last announced its quarterly earnings results on Tuesday, February 5th. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.11. The firm had revenue of $82.55 million for 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 revenue for the quarter was up 95.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) EPS. Analysts expect that Array Biopharma Inc will post -0.6 EPS for the current fiscal year.
ARRY has been the topic of a number of research reports. Zacks Investment Research lowered shares of Array Biopharma from a “buy” rating to a “hold” rating in a research report on Monday, January 21st. Stifel Nicolaus boosted their target price on shares of Array Biopharma from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, December 12th. BidaskClub raised shares of Array Biopharma from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Goldman Sachs Group initiated coverage on shares of Array Biopharma in a research report on Thursday, December 13th. They set a “neutral” rating and a $20.00 target price on the stock. Finally, Leerink Swann initiated coverage on shares of Array Biopharma in a research report on Thursday, January 17th. They set an “outperform” rating and a $28.00 target price on the stock. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $26.50.
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About Array Biopharma
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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