EAM Investors LLC purchased a new stake in Array BioPharma Inc. (NASDAQ:ARRY) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 202,309 shares of the biopharmaceutical company’s stock, valued at approximately $2,488,000. EAM Investors LLC owned about 0.10% of Array BioPharma as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in ARRY. Marshall Wace North America L.P. grew its stake in shares of Array BioPharma by 4.6% in the 2nd quarter. Marshall Wace North America L.P. now owns 677,109 shares of the biopharmaceutical company’s stock valued at $5,417,000 after buying an additional 29,543 shares during the period. Northern Trust Corp lifted its position in Array BioPharma by 8.5% in the 2nd quarter. Northern Trust Corp now owns 2,130,493 shares of the biopharmaceutical company’s stock valued at $17,832,000 after acquiring an additional 166,031 shares in the last quarter. KCG Holdings Inc. lifted its position in Array BioPharma by 15.5% in the 1st quarter. KCG Holdings Inc. now owns 26,638 shares of the biopharmaceutical company’s stock valued at $238,000 after acquiring an additional 3,577 shares in the last quarter. New York State Common Retirement Fund lifted its position in Array BioPharma by 6.4% in the 2nd quarter. New York State Common Retirement Fund now owns 195,300 shares of the biopharmaceutical company’s stock valued at $1,635,000 after acquiring an additional 11,699 shares in the last quarter. Finally, Nationwide Fund Advisors lifted its position in shares of Array BioPharma by 12.8% during the 2nd quarter. Nationwide Fund Advisors now owns 125,993 shares of the biopharmaceutical company’s stock worth $1,055,000 after buying an additional 14,254 shares in the last quarter. 98.16% of the stock is owned by institutional investors and hedge funds.
Array BioPharma Inc. (NASDAQ ARRY) traded up $0.22 during trading hours on Thursday, hitting $10.80. 1,891,939 shares of the stock were exchanged, compared to its average volume of 3,841,686. Array BioPharma Inc. has a 1 year low of $6.73 and a 1 year high of $13.40. 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 (NASDAQ:ARRY) last announced its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.22). The company had revenue of $29.75 million during the quarter, compared to analyst estimates of $33.74 million. Array BioPharma had a negative net margin of 89.30% and a negative return on equity of 158.70%. The firm’s revenue for the quarter was down 24.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.20) EPS. equities analysts predict that Array BioPharma Inc. will post -0.99 earnings per share for the current fiscal year.
In other news, Director Kyle Lefkoff sold 38,865 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $12.31, for a total value of $478,428.15. Following the sale, the director now directly owns 51,585 shares of the company’s stock, valued at approximately $635,011.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.18% of the stock is owned by corporate insiders.
ARRY has been the topic of several recent analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $13.00 target price on shares of Array BioPharma in a research report on Thursday, August 10th. Cantor Fitzgerald set a $13.00 price objective on shares of Array BioPharma and gave the company a “buy” rating in a research note on Wednesday, August 9th. Piper Jaffray Companies reiterated a “buy” rating and issued a $14.00 price objective on shares of Array BioPharma in a research note on Thursday, August 10th. Zacks Investment Research upgraded shares of Array BioPharma from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Finally, BidaskClub upgraded shares of Array BioPharma from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $13.65.
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About Array BioPharma
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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