Array BioPharma Inc. (NASDAQ:ARRY) COO Sells $3,032,409.28 in Stock

Array BioPharma Inc. (NASDAQ:ARRY) COO Andrew R. Robbins sold 282,874 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $10.72, for a total value of $3,032,409.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Array BioPharma Inc. (ARRY) traded down $0.24 during trading hours on Friday, hitting $13.71. The stock had a trading volume of 2,979,469 shares, compared to its average volume of 3,360,000. The firm has a market cap of $2,700.00, a PE ratio of -18.53 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. The company has a current ratio of 5.43, a quick ratio of 5.43 and a debt-to-equity ratio of 0.54.

Array BioPharma (NASDAQ:ARRY) last released its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.22). The business had revenue of $29.75 million during the quarter, compared to analysts’ expectations of $33.74 million. Array BioPharma had a negative return on equity of 158.70% and a negative net margin of 89.30%. The business’s quarterly revenue was down 24.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.20) EPS. research analysts forecast that Array BioPharma Inc. will post -0.99 EPS for the current fiscal year.

ARRY has been the topic of several research analyst reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $15.00 price objective on shares of Array BioPharma in a report on Tuesday, September 26th. Piper Jaffray Companies reissued an “overweight” rating and set a $18.00 target price (up from $14.00) on shares of Array BioPharma in a research note on Wednesday, September 20th. Stifel Nicolaus reissued a “buy” rating on shares of Array BioPharma in a research note on Wednesday, November 1st. Jefferies Group boosted their target price on Array BioPharma to $13.00 and gave the stock a “buy” rating in a research note on Friday, December 22nd. Finally, SunTrust Banks reissued a “buy” rating and set a $16.00 target price on shares of Array BioPharma in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Array BioPharma has an average rating of “Buy” and a consensus price target of $14.10.

Large investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its position in shares of Array BioPharma by 8.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,737 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 972 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Array BioPharma during the 2nd quarter worth about $110,000. Ameritas Investment Partners Inc. boosted its position in shares of Array BioPharma by 7.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 15,148 shares of the biopharmaceutical company’s stock worth $127,000 after acquiring an additional 1,012 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Array BioPharma during the 3rd quarter worth about $146,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Array BioPharma by 71.9% in the 2nd 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 period. 98.13% of the stock is owned by institutional investors and hedge funds.

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Array BioPharma Company Profile

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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