Handelsbanken Fonder AB grew its stake in shares of Array Biopharma Inc (NASDAQ:ARRY) by 81.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,033,000 shares of the biopharmaceutical company’s stock after buying an additional 465,000 shares during the quarter. Handelsbanken Fonder AB owned 0.50% of Array Biopharma worth $13,222,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Array Biopharma by 12.6% during 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. Franklin Resources Inc. grew its stake in shares of Array Biopharma by 12.0% during the fourth quarter. Franklin Resources Inc. now owns 9,169,836 shares of the biopharmaceutical company’s stock valued at $117,374,000 after buying an additional 979,072 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Array Biopharma by 274.4% during 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. BVF Inc. IL grew its stake in shares of Array Biopharma by 35.7% in the fourth quarter. BVF Inc. IL now owns 8,686,498 shares of the biopharmaceutical company’s stock worth $111,187,000 after purchasing an additional 2,283,973 shares during the last quarter. Finally, Driehaus Capital Management LLC grew its stake in shares of Array Biopharma by 19.8% in the fourth quarter. Driehaus Capital Management LLC now owns 2,513,682 shares of the biopharmaceutical company’s stock worth $32,175,000 after purchasing an additional 416,277 shares during the last quarter. 96.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Array Biopharma Inc (NASDAQ:ARRY) opened at $16.35 on Friday. 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 stock has a market capitalization of $3,488.30, a PE ratio of -21.23 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 data on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.06. Array Biopharma had a negative net margin of 98.51% and a negative return on equity of 107.79%. The business had revenue of $42.21 million during the quarter, compared to analyst estimates of $26.81 million. During the same period last year, the business posted ($0.14) earnings per share. Array Biopharma’s quarterly revenue was down 5.2% compared to the same quarter last year. analysts predict that Array Biopharma Inc will post -0.88 EPS for the current fiscal year.
In other Array Biopharma news, CFO Jason Haddock sold 7,500 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 36,368 shares in the company, valued at $499,332.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lunsen Gil J. Van sold 21,500 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $12.94, for a total transaction of $278,210.00. Following the completion of the sale, the director now owns 34,297 shares of the company’s stock, valued at $443,803.18. The disclosure for this sale can be found here. Insiders sold 278,016 shares of company stock valued at $4,718,508 over the last 90 days. 3.18% of the stock is currently owned by company insiders.
ARRY has been the topic of several recent analyst reports. Cantor Fitzgerald set a $15.00 target price on Array Biopharma and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Stifel Nicolaus raised their target price on Array Biopharma from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Zacks Investment Research cut Array Biopharma from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Leerink Swann raised Array Biopharma from a “market perform” rating to an “outperform” rating in a research note on Monday, January 22nd. Finally, Jefferies Group raised their target price on Array Biopharma to $13.00 and gave the stock a “buy” rating in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $16.43.
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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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