Array Biopharma Inc (ARRY) Director Sells $368,940.00 in Stock

Array Biopharma Inc (NASDAQ:ARRY) Director Lunsen Gil J. Van sold 21,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $17.16, for a total value of $368,940.00. Following the completion of the sale, the director now directly owns 32,797 shares in the company, valued at $562,796.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Array Biopharma Inc (NASDAQ ARRY) traded up $0.26 during mid-day trading on Friday, reaching $18.15. The company had a trading volume of 2,594,375 shares, compared to its average volume of 4,860,000. The company has a market cap of $3,630.00, a PE ratio of -23.57 and a beta of 2.03. Array Biopharma Inc has a fifty-two week low of $6.73 and a fifty-two week high of $18.30. The company has a debt-to-equity ratio of 0.39, a current ratio of 6.17 and a quick ratio of 6.17.

Array Biopharma (NASDAQ:ARRY) last released its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.06. The business had revenue of $42.21 million for the quarter, compared to analysts’ expectations of $26.81 million. Array Biopharma had a negative return on equity of 107.79% and a negative net margin of 98.51%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.14) EPS. analysts predict that Array Biopharma Inc will post -0.87 EPS for the current year.

A number of brokerages have recently commented on ARRY. Zacks Investment Research raised Array Biopharma from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. BidaskClub raised Array Biopharma from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Cantor Fitzgerald reissued a “buy” rating and issued a $15.00 price target on shares of Array Biopharma in a research report on Sunday, January 21st. SunTrust Banks reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Array Biopharma in a research report on Tuesday, February 6th. Finally, Stifel Nicolaus upped their price objective on Array Biopharma from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $16.43.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Array Biopharma by 12.6% in the 4th quarter. BlackRock Inc. now owns 15,252,802 shares of the biopharmaceutical company’s stock valued at $195,236,000 after acquiring an additional 1,707,369 shares in the last quarter. State Street Corp lifted its position in Array Biopharma by 15.5% in the 2nd quarter. State Street Corp now owns 9,544,525 shares of the biopharmaceutical company’s stock valued at $79,890,000 after acquiring an additional 1,279,750 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Array Biopharma by 12.0% during the 4th quarter. Franklin Resources Inc. now owns 9,169,836 shares of the biopharmaceutical company’s stock valued at $117,374,000 after buying an additional 979,072 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of Array Biopharma by 274.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 9,008,999 shares of the biopharmaceutical company’s stock valued at $110,811,000 after buying an additional 6,602,999 shares during the period. Finally, BVF Inc. IL lifted its holdings in shares of Array Biopharma by 35.7% during the 4th quarter. BVF Inc. IL now owns 8,686,498 shares of the biopharmaceutical company’s stock valued at $111,187,000 after buying an additional 2,283,973 shares during the period. 94.02% of the stock is currently owned by institutional investors and hedge funds.

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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).

Insider Buying and Selling by Quarter for Array Biopharma (NASDAQ:ARRY)

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