Guggenheim Capital LLC trimmed its position in Array Biopharma Inc (NASDAQ:ARRY) by 15.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 250,014 shares of the biopharmaceutical company’s stock after selling 46,608 shares during the quarter. Guggenheim Capital LLC owned approximately 0.12% of Array Biopharma worth $3,200,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in ARRY. Zurcher Kantonalbank Zurich Cantonalbank increased 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 purchasing an additional 3,834 shares during the period. QS Investors LLC acquired a new stake in Array Biopharma in the fourth quarter worth about $134,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Array Biopharma during the 4th quarter worth about $169,000. First Mercantile Trust Co. acquired a new position in shares of Array Biopharma during the 4th quarter worth about $182,000. Finally, Jefferies Group LLC acquired a new position in shares of Array Biopharma during the 4th quarter worth about $185,000. Hedge funds and other institutional investors own 96.41% of the company’s stock.
Shares of ARRY opened at $14.94 on Friday. 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 Inc has a 52-week low of $6.73 and a 52-week high of $18.78. The company has a market capitalization of $3,176.84, a P/E ratio of -20.75 and a beta of 1.73.
Array Biopharma (NASDAQ:ARRY) last issued its quarterly earnings data on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.06. Array Biopharma had a negative return on equity of 107.79% and a negative net margin of 98.51%. The business had revenue of $42.21 million during the quarter, compared to analyst estimates of $26.81 million. During the same period in the previous year, the firm earned ($0.14) EPS. Array Biopharma’s quarterly revenue was down 5.2% compared to the same quarter last year. equities analysts forecast that Array Biopharma Inc will post -0.88 EPS for the current year.
In related news, Director Charles M. Baum sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $16.90, for a total value of $845,000.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $591,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason Haddock sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $13.73, for a total value of $102,975.00. Following the completion of the transaction, the chief financial officer now owns 36,368 shares of the company’s stock, valued at $499,332.64. The disclosure for this sale can be found here. Insiders sold a total of 286,705 shares of company stock valued at $4,851,885 over the last quarter. 3.18% of the stock is owned by insiders.
Several equities analysts have recently issued reports on ARRY shares. Cantor Fitzgerald set a $15.00 target price on Array Biopharma and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Zacks Investment Research lowered Array Biopharma from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Stifel Nicolaus boosted their target price on Array Biopharma from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Leerink Swann upgraded Array Biopharma from a “market perform” rating to an “outperform” rating in a research report on Monday, January 22nd. Finally, Jefferies Group boosted their target price on Array Biopharma to $13.00 and gave the stock a “buy” rating in a research report on Friday, December 22nd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Array Biopharma presently has a consensus rating of “Buy” and an average price target of $17.25.
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Array Biopharma Company 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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