Kazazian Asset Management LLC boosted its stake in Array Biopharma Inc (NASDAQ:ARRY) by 151.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,367 shares of the biopharmaceutical company’s stock after acquiring an additional 17,681 shares during the period. Kazazian Asset Management LLC’s holdings in Array Biopharma were worth $376,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Array Biopharma by 70.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,244 shares of the biopharmaceutical company’s stock worth $118,000 after acquiring an additional 3,834 shares during the period. QS Investors LLC bought a new stake in Array Biopharma in the fourth quarter worth about $134,000. Quantitative Systematic Strategies LLC bought a new stake in Array Biopharma in the fourth quarter worth about $169,000. First Mercantile Trust Co. bought a new stake in Array Biopharma in the fourth quarter worth about $182,000. Finally, Jefferies Group LLC bought a new stake in Array Biopharma in the fourth quarter worth about $185,000. 96.43% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have commented on the stock. Zacks Investment Research raised shares of Array Biopharma from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. BidaskClub raised shares of 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 reissued a “buy” rating and issued a $20.00 price target on shares of Array Biopharma in a research report on Tuesday, February 6th. Finally, Stifel Nicolaus boosted their price target on shares of Array Biopharma from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.43.
In related news, COO Andrew R. Robbins sold 282,874 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $10.72, for a total transaction of $3,032,409.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ron Squarer sold 819,671 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $10.86, for a total transaction of $8,901,627.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,359,061 shares of company stock valued at $16,292,205. 3.18% of the stock is owned by corporate insiders.
Shares of Array Biopharma Inc (ARRY) opened at $17.49 on Friday. Array Biopharma Inc has a 12-month low of $6.73 and a 12-month high of $18.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 6.17 and a quick ratio of 6.17. The stock has a market cap of $3,652.33, a P/E ratio of -22.71 and a beta of 1.80.
Array Biopharma (NASDAQ:ARRY) last posted its quarterly earnings results 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 company had revenue of $42.21 million for the quarter, compared to analyst estimates of $26.81 million. Array Biopharma had a negative net margin of 98.51% and a negative return on equity of 107.79%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. sell-side analysts expect that Array Biopharma Inc will post -0.87 EPS for the current year.
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Array Biopharma 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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