BidaskClub upgraded shares of Array BioPharma (NASDAQ:ARRY) from a sell rating to a hold rating in a report published on Friday, December 22nd.
Other analysts have also issued research reports about the company. Jefferies Group set a $9.00 price target on Array BioPharma and gave the stock a buy rating in a research note on Friday, August 25th. SunTrust Banks reissued a buy rating and set a $16.00 price objective on shares of Array BioPharma in a research report on Wednesday, November 1st. Stifel Nicolaus reissued a buy rating on shares of Array BioPharma in a research report on Wednesday, November 1st. Cantor Fitzgerald set a $15.00 price target on Array BioPharma and gave the company a buy rating in a report on Tuesday, October 31st. Finally, JPMorgan Chase & Co. restated a buy rating and set a $14.00 price target on shares of Array BioPharma in a report on Monday, September 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Array BioPharma presently has an average rating of Buy and a consensus target price of $14.10.
Shares of Array BioPharma (ARRY) traded down $0.24 during midday trading on Friday, reaching $13.71. 2,980,000 shares of the company’s stock were exchanged, compared to its average volume of 3,380,000. The company has a market capitalization of $2,700.00, a PE ratio of -18.53 and a beta of 1.91. Array BioPharma has a twelve month low of $6.73 and a twelve month high of $14.40. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.43 and a quick ratio of 5.43.
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 analysts’ consensus estimates of ($0.22). The firm had revenue of $29.75 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted ($0.20) earnings per share. sell-side analysts forecast that Array BioPharma will post -0.99 earnings per share for the current year.
In other Array BioPharma news, CEO Ron Squarer sold 819,671 shares of the business’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $10.86, for a total transaction of $8,901,627.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew R. Robbins sold 282,874 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $10.72, for a total value of $3,032,409.28. The disclosure for this sale can be found here. Insiders own 3.18% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Marshall Wace North America L.P. lifted its holdings in 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 worth $5,417,000 after purchasing an additional 29,543 shares in the last quarter. Northern Trust Corp lifted its holdings 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 worth $17,832,000 after purchasing an additional 166,031 shares in the last quarter. New York State Common Retirement Fund lifted its holdings 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 worth $1,635,000 after purchasing an additional 11,699 shares in the last quarter. Nationwide Fund Advisors lifted its holdings in Array BioPharma by 12.8% in the 2nd quarter. Nationwide Fund Advisors now owns 125,993 shares of the biopharmaceutical company’s stock worth $1,055,000 after purchasing an additional 14,254 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Array BioPharma by 33.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,446,775 shares of the biopharmaceutical company’s stock worth $12,109,000 after purchasing an additional 360,535 shares in the last quarter. 98.13% of the stock is currently owned by hedge funds and other institutional investors.
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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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