Landscape Capital Management L.L.C. purchased a new position in shares of Array Biopharma Inc (NASDAQ:ARRY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 79,803 shares of the biopharmaceutical company’s stock, valued at approximately $1,021,000.
Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Array Biopharma by 12.6% in the fourth quarter. BlackRock Inc. now owns 15,252,802 shares of the biopharmaceutical company’s stock valued at $195,236,000 after buying an additional 1,707,369 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Array Biopharma by 274.4% in the third quarter. Point72 Asset Management L.P. now owns 9,008,999 shares of the biopharmaceutical company’s stock valued at $110,811,000 after buying an additional 6,602,999 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Array Biopharma by 172.9% during the fourth quarter. UBS Asset Management Americas Inc. now owns 2,112,438 shares of the biopharmaceutical company’s stock valued at $27,039,000 after purchasing an additional 1,338,377 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Array Biopharma by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 1,867,750 shares of the biopharmaceutical company’s stock valued at $23,906,000 after purchasing an additional 83,705 shares in the last quarter. Finally, Eversept Partners LLC bought a new stake in shares of Array Biopharma during the fourth quarter valued at about $15,844,000. 96.43% of the stock is currently owned by institutional investors.
Shares of Array Biopharma Inc (ARRY) traded up $0.08 during mid-day trading on Wednesday, hitting $17.59. The stock had a trading volume of 1,948,921 shares, compared to its average volume of 3,730,000. 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 capitalization of $3,650.00, a PE ratio of -22.84 and a beta of 1.80. Array Biopharma Inc has a 12 month low of $6.73 and a 12 month high of $18.78.
Array Biopharma (NASDAQ:ARRY) last issued its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating the 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 for the quarter, compared to analyst estimates of $26.81 million. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. equities research analysts forecast that Array Biopharma Inc will post -0.87 earnings per share for the current year.
Several brokerages have commented on ARRY. Leerink Swann boosted their price target on shares of Array Biopharma from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Zacks Investment Research raised Array Biopharma from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Stifel Nicolaus lifted their target price on Array Biopharma from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. SunTrust Banks reissued a “buy” rating and issued a $20.00 price target on shares of Array Biopharma in a research note on Tuesday, February 6th. Finally, Cantor Fitzgerald set a $15.00 price target on Array Biopharma and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $16.43.
In other news, insider Victor Sandor sold 156,016 shares of the firm’s 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 document filed with the SEC, which is accessible through this link. Also, CEO Ron Squarer sold 819,671 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $10.86, for a total value of $8,901,627.06. The disclosure for this sale can be found here. Insiders sold 1,359,061 shares of company stock worth $16,292,205 in the last three months. Insiders own 3.18% of the company’s stock.
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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).
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