BidaskClub cut shares of Array Biopharma (NASDAQ:ARRY) from a hold rating to a sell rating in a research note released on Wednesday.
A number of other analysts have also commented on ARRY. Jefferies Group boosted their price target on shares of Array Biopharma to $13.00 and gave the company a buy rating in a research note on Friday, December 22nd. Cantor Fitzgerald set a $15.00 price objective on shares of Array Biopharma and gave the stock a buy rating in a report on Wednesday, January 3rd. Zacks Investment Research downgraded shares of Array Biopharma from a hold rating to a sell rating in a report on Thursday, January 4th. Stifel Nicolaus lifted their price objective on shares of Array Biopharma from $15.00 to $20.00 and gave the stock a buy rating in a report on Monday, January 22nd. Finally, Leerink Swann raised shares of Array Biopharma from a market perform rating to an outperform rating in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. Array Biopharma has a consensus rating of Buy and an average target price of $16.43.
Shares of ARRY stock opened at $16.80 on Wednesday. The company has a market cap of $3,479.99, a price-to-earnings ratio of -21.82 and a beta of 1.80. 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 has a one year low of $6.73 and a one year high of $18.78.
Array Biopharma (NASDAQ:ARRY) last announced its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.06. The business had revenue of $42.21 million during 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%. Array Biopharma’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.14) EPS. equities research analysts forecast that Array Biopharma will post -0.88 earnings per share for the current fiscal year.
In other Array Biopharma news, insider Victor Sandor sold 156,016 shares of Array Biopharma stock in a transaction on Friday, March 9th. The shares were sold at an average price of $17.71, for a total transaction of $2,763,043.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lunsen Gil J. Van sold 21,500 shares of Array Biopharma stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $16.76, for a total transaction of $360,340.00. Following the transaction, the director now directly owns 26,297 shares in the company, valued at $440,737.72. The disclosure for this sale can be found here. Insiders have sold a total of 278,016 shares of company stock worth $4,718,508 over the last ninety days. Insiders own 3.18% of the company’s stock.
Several large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of Array Biopharma by 12.6% in the 4th quarter. BlackRock Inc. now owns 15,252,802 shares of the biopharmaceutical company’s stock worth $195,236,000 after buying an additional 1,707,369 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Array Biopharma by 12.0% in the 4th quarter. Franklin Resources Inc. now owns 9,169,836 shares of the biopharmaceutical company’s stock worth $117,374,000 after buying an additional 979,072 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Array Biopharma by 274.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 9,008,999 shares of the biopharmaceutical company’s stock worth $110,811,000 after buying an additional 6,602,999 shares during the last quarter. BVF Inc. IL boosted its holdings in shares of Array Biopharma by 35.7% in the 4th quarter. BVF Inc. IL now owns 8,686,498 shares of the biopharmaceutical company’s stock worth $111,187,000 after buying an additional 2,283,973 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in shares of Array Biopharma by 19.8% in the 4th quarter. Driehaus Capital Management LLC now owns 2,513,682 shares of the biopharmaceutical company’s stock worth $32,175,000 after buying an additional 416,277 shares during the last quarter. 96.41% of the stock is currently owned by institutional investors.
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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).
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