Paloma Partners Management Co bought a new stake in shares of Array Biopharma Inc (NASDAQ:ARRY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 19,400 shares of the biopharmaceutical company’s stock, valued at approximately $276,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its holdings in shares of Array Biopharma by 92.4% in the third quarter. Russell Investments Group Ltd. now owns 70,844 shares of the biopharmaceutical company’s stock valued at $1,077,000 after purchasing an additional 34,016 shares in the last quarter. Prudential Financial Inc. boosted its stake in Array Biopharma by 25.3% in the third quarter. Prudential Financial Inc. now owns 246,627 shares of the biopharmaceutical company’s stock valued at $3,749,000 after acquiring an additional 49,790 shares during the last quarter. Swiss National Bank boosted its stake in Array Biopharma by 1.6% in the third quarter. Swiss National Bank now owns 349,000 shares of the biopharmaceutical company’s stock valued at $5,305,000 after acquiring an additional 5,600 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Array Biopharma by 57.8% in the third quarter. Alliancebernstein L.P. now owns 682,749 shares of the biopharmaceutical company’s stock valued at $10,378,000 after acquiring an additional 250,000 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Array Biopharma by 1.2% in the third quarter. BlackRock Inc. now owns 17,121,252 shares of the biopharmaceutical company’s stock valued at $260,243,000 after acquiring an additional 201,556 shares during the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.

ARRY opened at $23.14 on Thursday. Array Biopharma Inc has a twelve month low of $12.56 and a twelve month high of $24.76. The company has a quick ratio of 6.31, a current ratio of 6.31 and a debt-to-equity ratio of 0.46. The firm has a market cap of $5.05 billion, a PE ratio of -31.70 and a beta of 1.48.

Array Biopharma (NASDAQ:ARRY) last released its quarterly earnings data on Tuesday, February 5th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.11. Array Biopharma had a negative net margin of 46.20% and a negative return on equity of 44.37%. The firm had revenue of $82.55 million for the quarter, compared to analyst estimates of $52.44 million. During the same period last year, the firm earned ($0.17) earnings per share. The business’s quarterly revenue was up 95.5% compared to the same quarter last year. As a group, research analysts anticipate that Array Biopharma Inc will post -0.62 earnings per share for the current fiscal year.

In other Array Biopharma news, COO Andrew R. Robbins sold 239,626 shares of Array Biopharma stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $20.03, for a total transaction of $4,799,708.78. Following the completion of the sale, the chief operating officer now directly owns 212,120 shares in the company, valued at $4,248,763.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicholas A. Saccomano sold 187,264 shares of Array Biopharma stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $21.58, for a total transaction of $4,041,157.12. Following the sale, the insider now owns 224,988 shares of the company’s stock, valued at $4,855,241.04. The disclosure for this sale can be found here. Insiders sold 957,040 shares of company stock worth $19,409,030 over the last ninety days. Insiders own 2.10% of the company’s stock.

ARRY has been the topic of a number of recent research reports. BidaskClub raised shares of Array Biopharma from a “hold” rating to a “buy” rating in a research note on Wednesday, January 9th. Stifel Nicolaus raised their price objective on shares of Array Biopharma from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, December 12th. Zacks Investment Research raised shares of Array Biopharma from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Wednesday, January 23rd. Cantor Fitzgerald set a $30.00 price objective on shares of Array Biopharma and gave the company a “buy” rating in a research note on Tuesday, February 5th. Finally, Goldman Sachs Group assumed coverage on shares of Array Biopharma in a research note on Thursday, December 13th. They issued a “neutral” rating and a $20.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $26.50.

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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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Institutional Ownership by Quarter for Array Biopharma (NASDAQ:ARRY)

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