BVF Inc. IL lifted its position in shares of Array Biopharma Inc (NASDAQ:ARRY) by 35.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,686,498 shares of the biopharmaceutical company’s stock after purchasing an additional 2,283,973 shares during the period. Array Biopharma accounts for about 13.4% of BVF Inc. IL’s holdings, making the stock its biggest position. BVF Inc. IL owned approximately 4.18% of Array Biopharma worth $111,187,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Array Biopharma by 70.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,244 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 3,834 shares in the last quarter. QS Investors LLC bought a new position in shares of Array Biopharma during the fourth quarter valued at about $134,000. Quantitative Systematic Strategies LLC bought a new position in shares of Array Biopharma during the fourth quarter valued at about $169,000. First Mercantile Trust Co. bought a new position in shares of Array Biopharma during the fourth quarter valued at about $182,000. Finally, Jefferies Group LLC bought a new position in shares of Array Biopharma during the fourth quarter valued at about $185,000. 96.43% of the stock is currently owned by institutional investors.
In other Array Biopharma news, COO Andrew R. Robbins sold 282,874 shares of Array Biopharma 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ron Squarer sold 819,671 shares of Array Biopharma 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. Over the last quarter, insiders have sold 1,359,061 shares of company stock valued at $16,292,205. 3.18% of the stock is currently owned by company insiders.
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. Leerink Swann lifted their price objective on shares of Array Biopharma from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Stifel Nicolaus lifted their price objective on shares of Array Biopharma from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. 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, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Array Biopharma in a research report on Sunday, January 21st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Array Biopharma has a consensus rating of “Buy” and an average price target of $16.43.
Array Biopharma Inc (ARRY) opened at $16.83 on Friday. The company has a market cap of $3,494.53, a P/E ratio of -21.86 and a beta of 1.80. 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 quick ratio of 6.17 and a current ratio of 6.17.
Array Biopharma (NASDAQ:ARRY) last issued its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.06. Array Biopharma had a negative net margin of 98.51% and a negative return on equity of 107.79%. The company had revenue of $42.21 million during the quarter, compared to analysts’ expectations of $26.81 million. During the same quarter in the previous year, the company earned ($0.14) earnings per share. Array Biopharma’s revenue for the quarter was down 5.2% on a year-over-year basis. equities analysts forecast 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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