Array BioPharma Inc. (NASDAQ:ARRY) CEO Ron Squarer sold 819,671 shares of Array BioPharma stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $10.86, for a total transaction of $8,901,627.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of Array BioPharma Inc. (NASDAQ:ARRY) traded down $0.03 during trading on Thursday, reaching $13.95. 3,879,300 shares of the company’s stock traded hands, compared to its average volume of 4,035,836. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.43 and a quick ratio of 5.43. The stock has a market capitalization of $2,750.00, a PE ratio of -18.85 and a beta of 1.91. Array BioPharma Inc. has a twelve month low of $6.73 and a twelve month high of $14.40.
Array BioPharma (NASDAQ:ARRY) last released its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, meeting the consensus estimate of ($0.22). Array BioPharma had a negative net margin of 89.30% and a negative return on equity of 158.70%. The firm had revenue of $29.75 million during the quarter, compared to analysts’ expectations of $33.74 million. During the same period in the previous year, the company earned ($0.20) earnings per share. The firm’s quarterly revenue was down 24.2% on a year-over-year basis. research analysts forecast that Array BioPharma Inc. will post -0.99 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its holdings in shares of Array BioPharma by 8.3% during the second quarter. Teacher Retirement System of Texas now owns 12,737 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 972 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Array BioPharma during the second quarter valued at approximately $110,000. Ameritas Investment Partners Inc. raised its holdings in shares of Array BioPharma by 7.2% during the second 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. purchased a new position in shares of Array BioPharma during the third quarter valued at approximately $146,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Array BioPharma by 71.9% during the second 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. 98.13% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating on shares of Array BioPharma in a research report on Wednesday, November 1st. BidaskClub cut shares of Array BioPharma from a “hold” rating to a “sell” rating in a research report on Saturday, December 2nd. Piper Jaffray Companies reissued an “overweight” rating and set a $18.00 price target (up from $14.00) on shares of Array BioPharma in a research report on Wednesday, September 20th. Jefferies Group lifted their price target on shares of Array BioPharma to $13.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. Finally, Zacks Investment Research cut shares of Array BioPharma from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. One 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’s stock. The company currently has an average rating of “Buy” and an average target price of $14.10.
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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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