Sphera Funds Management LTD. grew its stake in shares of Array Biopharma Inc (NASDAQ:ARRY) by 16.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 395,000 shares of the biopharmaceutical company’s stock after buying an additional 55,196 shares during the quarter. Sphera Funds Management LTD. owned 0.19% of Array Biopharma worth $6,004,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. FMR LLC grew its stake in shares of Array Biopharma by 11.1% in the third quarter. FMR LLC now owns 27,101,636 shares of the biopharmaceutical company’s stock worth $411,945,000 after purchasing an additional 2,711,240 shares during the last quarter. BlackRock Inc. grew its stake in shares of Array Biopharma by 1.2% in the third quarter. BlackRock Inc. now owns 17,121,252 shares of the biopharmaceutical company’s stock worth $260,243,000 after purchasing an additional 201,556 shares during the last quarter. Morgan Stanley grew its stake in shares of Array Biopharma by 127.7% in the second quarter. Morgan Stanley now owns 3,578,476 shares of the biopharmaceutical company’s stock worth $60,048,000 after purchasing an additional 2,006,894 shares during the last quarter. American Century Companies Inc. grew its stake in shares of 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 last quarter. Finally, Northern Trust Corp grew its stake in shares of Array Biopharma by 4.4% in the second quarter. Northern Trust Corp now owns 2,524,664 shares of the biopharmaceutical company’s stock worth $42,364,000 after purchasing an additional 105,314 shares during the last quarter. 94.93% of the stock is currently owned by hedge funds and other institutional investors.
In other Array Biopharma news, insider Victor Sandor sold 115,185 shares of Array Biopharma stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $16.21, for a total transaction of $1,867,148.85. Following the sale, the insider now directly owns 337,483 shares of the company’s stock, valued at approximately $5,470,599.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carrie Smith Cox acquired 3,000 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were purchased at an average cost of $16.87 per share, for a total transaction of $50,610.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at approximately $50,610. The disclosure for this purchase can be found here. Insiders own 2.10% of the company’s stock.
Several research firms recently issued reports on ARRY. Cowen set a $22.00 target price on Array Biopharma and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Zacks Investment Research raised Array Biopharma from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. BidaskClub cut Array Biopharma from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 11th. Finally, Guggenheim initiated coverage on Array Biopharma in a research report on Monday, September 17th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $22.44.
Array Biopharma stock traded down $0.36 during trading hours on Friday, hitting $15.55. 163,902 shares of the stock traded hands, compared to its average volume of 2,023,828. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.62 and a current ratio of 5.62. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of -21.29 and a beta of 1.06. Array Biopharma Inc has a one year low of $10.44 and a one year high of $20.21.
Array Biopharma (NASDAQ:ARRY) last posted its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.10. The business had revenue of $56.91 million for the quarter, compared to analysts’ expectations of $34.47 million. Array Biopharma had a negative return on equity of 74.02% and a negative net margin of 66.77%. The business’s revenue was up 91.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.22) EPS. On average, analysts predict that Array Biopharma Inc will post -0.65 earnings per share for the current year.
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Array Biopharma 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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