Array Biopharma Inc (NASDAQ:ARRY) has earned a consensus rating of “Buy” from the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $23.38.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Array Biopharma from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Cowen set a $22.00 price target on shares of Array Biopharma and gave the company a “buy” rating in a report on Wednesday. Finally, BidaskClub raised shares of Array Biopharma from a “strong sell” rating to a “sell” rating in a report on Thursday, October 18th.
In related news, CFO Jason Haddock sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $13.92, for a total value of $278,400.00. Following the completion of the sale, the chief financial officer now owns 35,393 shares of the company’s stock, valued at $492,670.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lunsen Gil J. Van sold 18,000 shares of the company’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $14.76, for a total transaction of $265,680.00. Following the completion of the sale, the director now directly owns 37,297 shares of the company’s stock, valued at approximately $550,503.72. The disclosure for this sale can be found here. Insiders sold 47,687 shares of company stock valued at $693,066 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. WINTON GROUP Ltd lifted its holdings in Array Biopharma by 25.0% in the third quarter. WINTON GROUP Ltd now owns 26,889 shares of the biopharmaceutical company’s stock worth $409,000 after purchasing an additional 5,385 shares during the period. American Century Companies Inc. lifted its holdings in Array Biopharma by 19.4% in the third quarter. American Century Companies Inc. now owns 3,116,886 shares of the biopharmaceutical company’s stock worth $47,377,000 after purchasing an additional 506,146 shares during the period. Smith Asset Management Group LP lifted its holdings in Array Biopharma by 36.1% in the third quarter. Smith Asset Management Group LP now owns 27,920 shares of the biopharmaceutical company’s stock worth $424,000 after purchasing an additional 7,400 shares during the period. Wells Fargo & Company MN lifted its holdings in Array Biopharma by 13.4% in the third quarter. Wells Fargo & Company MN now owns 2,484,662 shares of the biopharmaceutical company’s stock worth $37,766,000 after purchasing an additional 292,749 shares during the period. Finally, Moody Aldrich Partners LLC lifted its holdings in Array Biopharma by 19.1% in the third quarter. Moody Aldrich Partners LLC now owns 192,990 shares of the biopharmaceutical company’s stock worth $2,933,000 after purchasing an additional 30,951 shares during the period. 92.56% of the stock is owned by institutional investors and hedge funds.
Shares of ARRY traded down $0.33 during midday trading on Monday, hitting $16.47. 2,923,717 shares of the stock traded hands, compared to its average volume of 3,092,951. Array Biopharma has a 1-year low of $10.21 and a 1-year high of $20.21. The company has a market cap of $3.45 billion, a price-to-earnings ratio of -22.56 and a beta of 1.11. The company has a debt-to-equity ratio of 0.60, a quick ratio of 4.71 and a current ratio of 5.62.
Array Biopharma (NASDAQ:ARRY) last announced its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.10. Array Biopharma had a negative net margin of 66.77% and a negative return on equity of 74.02%. The company had revenue of $56.91 million during the quarter, compared to the consensus estimate of $34.47 million. During the same quarter in the previous year, the company posted ($0.22) earnings per share. The company’s revenue for the quarter was up 91.3% compared to the same quarter last year. Analysts predict that Array Biopharma will post -0.66 EPS for the current year.
Array Biopharma Company Profile
Array BioPharma Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer and other diseases in North America, Europe, and the Asia Pacific. It provides BRAFTOVITM (encorafenib) capsules in combination with MEKTOVI (binimetinib) tablets for the treatment of patients with unresectable or metastatic melanoma with a BRAF mutation.
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