Carrie Smith Cox Purchases 3,000 Shares of Array Biopharma Inc (ARRY) Stock

Array Biopharma Inc (NASDAQ:ARRY) Director Carrie Smith Cox purchased 3,000 shares of Array Biopharma stock in a transaction on Thursday, November 1st. The shares were acquired at an average price of $16.87 per share, for a total transaction of $50,610.00. Following the completion of the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $50,610. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NASDAQ ARRY opened at $16.45 on Tuesday. Array Biopharma Inc has a one year low of $10.21 and a one year high of $20.21. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 0.60. The company has a market cap of $3.51 billion, a price-to-earnings ratio of -22.53 and a beta of 1.11.

Array Biopharma (NASDAQ:ARRY) last issued its earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $56.91 million for the quarter, compared to analysts’ expectations of $34.47 million. During the same quarter last year, the business earned ($0.22) earnings per share. The business’s revenue was up 91.3% on a year-over-year basis. As a group, sell-side analysts predict that Array Biopharma Inc will post -0.66 EPS for the current fiscal year.

ARRY has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Array Biopharma from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Cowen set a $22.00 price target on shares of Array Biopharma and gave the company a “buy” rating in a research report on Sunday, October 7th. BidaskClub cut shares of Array Biopharma from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. Finally, Guggenheim initiated coverage on shares of Array Biopharma in a research report on Monday, September 17th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $22.44.

Several institutional investors have recently modified their holdings of the company. FMR LLC lifted its stake in Array Biopharma by 3.3% in the second quarter. FMR LLC now owns 24,390,396 shares of the biopharmaceutical company’s stock worth $409,271,000 after acquiring an additional 787,460 shares during the period. BlackRock Inc. lifted its position in Array Biopharma by 6.1% during the second quarter. BlackRock Inc. now owns 16,919,696 shares of the biopharmaceutical company’s stock valued at $283,912,000 after buying an additional 970,259 shares during the period. Morgan Stanley lifted its position in Array Biopharma by 127.7% during the second quarter. Morgan Stanley now owns 3,578,476 shares of the biopharmaceutical company’s stock valued at $60,048,000 after buying an additional 2,006,894 shares during the period. American Century Companies Inc. lifted its position in Array Biopharma by 19.4% during the third quarter. American Century Companies Inc. now owns 3,116,886 shares of the biopharmaceutical company’s stock valued at $47,377,000 after buying an additional 506,146 shares during the period. Finally, Northern Trust Corp lifted its position in Array Biopharma by 4.4% during the second quarter. Northern Trust Corp now owns 2,524,664 shares of the biopharmaceutical company’s stock valued at $42,364,000 after buying an additional 105,314 shares during the period. Hedge funds and other institutional investors own 92.56% of the company’s stock.

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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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