Kazazian Asset Management LLC Raises Holdings in Array Biopharma Inc (ARRY)

Kazazian Asset Management LLC boosted its position in shares of Array Biopharma Inc (NASDAQ:ARRY) by 151.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,367 shares of the biopharmaceutical company’s stock after purchasing an additional 17,681 shares during the period. Kazazian Asset Management LLC’s holdings in Array Biopharma were worth $376,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ARRY. TIAA CREF Investment Management LLC lifted its position in shares of Array Biopharma by 9.2% in the fourth quarter. TIAA CREF Investment Management LLC now owns 828,739 shares of the biopharmaceutical company’s stock worth $10,608,000 after buying an additional 70,019 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of Array Biopharma by 3.6% during the 4th quarter. Teachers Advisors LLC now owns 1,319,624 shares of the biopharmaceutical company’s stock worth $16,891,000 after purchasing an additional 45,401 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Array Biopharma by 13.6% during the 4th quarter. California State Teachers Retirement System now owns 313,829 shares of the biopharmaceutical company’s stock worth $4,017,000 after purchasing an additional 37,570 shares during the last quarter. BVF Inc. IL lifted its position 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 worth $111,187,000 after purchasing an additional 2,283,973 shares during the last quarter. Finally, QS Investors LLC acquired a new position in shares of Array Biopharma during the 4th quarter worth about $134,000. 96.41% of the stock is owned by hedge funds and other institutional investors.

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Several equities analysts recently issued reports on the company. Leerink Swann boosted their price target on Array Biopharma from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Zacks Investment Research upgraded Array Biopharma from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Stifel Nicolaus upped their price objective on Array Biopharma from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. BidaskClub lowered Array Biopharma from a “hold” rating to a “sell” rating in a research note on Wednesday, March 21st. Finally, SunTrust Banks reissued a “buy” rating and issued a $20.00 target price on shares of Array Biopharma in a report on Tuesday, February 6th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Array Biopharma presently has an average rating of “Buy” and an average target price of $17.25.

Shares of ARRY stock traded down $0.36 during trading hours on Friday, reaching $14.94. The company had a trading volume of 1,935,188 shares, compared to its average volume of 2,727,667. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.39. The company has a market cap of $3,176.84, a P/E ratio of -20.75 and a beta of 1.73. Array Biopharma Inc has a 1-year low of $6.73 and a 1-year high of $18.78.

Array Biopharma (NASDAQ:ARRY) last released its quarterly earnings data 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. Array Biopharma had a negative net margin of 98.51% and a negative return on equity of 107.79%. The business had revenue of $42.21 million during the quarter, compared to analysts’ expectations of $26.81 million. During the same quarter in the prior year, the company earned ($0.14) EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. research analysts anticipate that Array Biopharma Inc 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 the stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $17.71, for a total transaction of $2,763,043.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lunsen Gil J. Van sold 21,500 shares of the stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $16.76, for a total value of $360,340.00. Following the transaction, the director now owns 26,297 shares of the company’s stock, valued at approximately $440,737.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 286,705 shares of company stock valued at $4,851,885. 3.18% of the stock is owned by corporate insiders.

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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).

Institutional Ownership by Quarter for Array Biopharma (NASDAQ:ARRY)

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