Array BioPharma Inc. (ARRY) Stake Boosted by Rhumbline Advisers
Rhumbline Advisers lifted its holdings in Array BioPharma Inc. (NASDAQ:ARRY) by 2.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 210,685 shares of the biopharmaceutical company’s stock after purchasing an additional 5,420 shares during the period. Rhumbline Advisers owned 0.11% of Array BioPharma worth $2,591,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of ARRY. Franklin Resources Inc. increased its stake in shares of Array BioPharma by 48.4% in the second quarter. Franklin Resources Inc. now owns 8,950,982 shares of the biopharmaceutical company’s stock worth $74,920,000 after purchasing an additional 2,918,156 shares during the period. Vanguard Group Inc. increased its stake in shares of Array BioPharma by 15.5% in the second quarter. Vanguard Group Inc. now owns 19,622,890 shares of the biopharmaceutical company’s stock worth $164,243,000 after purchasing an additional 2,629,475 shares during the period. State Street Corp increased its stake in shares of Array BioPharma by 15.5% in the second quarter. State Street Corp now owns 9,544,525 shares of the biopharmaceutical company’s stock worth $79,890,000 after purchasing an additional 1,279,750 shares during the period. Quantitative Investment Management LLC bought a new position in shares of Array BioPharma in the second quarter worth about $3,713,000. Finally, Teachers Advisors LLC increased its stake in shares of Array BioPharma by 51.6% in the second quarter. Teachers Advisors LLC now owns 1,274,728 shares of the biopharmaceutical company’s stock worth $10,669,000 after purchasing an additional 434,010 shares during the period. Institutional investors and hedge funds own 98.16% of the company’s stock.
In related news, Director Kyle Lefkoff sold 38,865 shares of the business’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $12.31, for a total transaction of $478,428.15. Following the transaction, the director now directly owns 51,585 shares in the company, valued at $635,011.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.18% of the company’s stock.
A number of equities analysts have recently commented on ARRY shares. BidaskClub upgraded Array BioPharma from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Cantor Fitzgerald set a $15.00 price objective on Array BioPharma and gave the stock a “buy” rating in a research note on Tuesday, October 31st. SunTrust Banks reiterated a “buy” rating and issued a $16.00 price objective on shares of Array BioPharma in a research note on Wednesday, November 1st. Jefferies Group reiterated a “buy” rating and issued a $9.00 price objective on shares of Array BioPharma in a research note on Tuesday, September 12th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $15.00 price objective (up from $13.00) on shares of Array BioPharma in a research note on Monday, September 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $13.65.
Array BioPharma Inc. (NASDAQ ARRY) opened at $11.25 on Friday. Array BioPharma Inc. has a 12 month low of $6.73 and a 12 month high of $13.40. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.43 and a quick ratio of 5.43.
Array BioPharma (NASDAQ:ARRY) last issued its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.22). Array BioPharma had a negative return on equity of 158.70% and a negative net margin of 89.30%. The firm had revenue of $29.75 million for the quarter, compared to analyst estimates of $33.74 million. During the same period in the previous year, the company posted ($0.20) earnings per share. The company’s quarterly revenue was down 24.2% compared to the same quarter last year. equities research analysts predict that Array BioPharma Inc. will post -1.02 earnings per share for the current year.
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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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