Pentwater Capital Management LP purchased a new stake in shares of Array Biopharma Inc (NASDAQ:ARRY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,765,000 shares of the biopharmaceutical company’s stock, valued at approximately $128,102,000. Array Biopharma comprises about 1.4% of Pentwater Capital Management LP’s investment portfolio, making the stock its 10th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Alpine Associates Management Inc. acquired a new stake in shares of Array Biopharma in the second quarter valued at approximately $139,532,000. Farallon Capital Management LLC lifted its position in shares of Array Biopharma by 54.5% in the second quarter. Farallon Capital Management LLC now owns 8,500,000 shares of the biopharmaceutical company’s stock valued at $393,805,000 after buying an additional 3,000,000 shares during the last quarter. TIG Advisors LLC acquired a new stake in shares of Array Biopharma in the second quarter valued at approximately $126,820,000. Marshall Wace North America L.P. lifted its position in shares of Array Biopharma by 19,428.9% in the first quarter. Marshall Wace North America L.P. now owns 2,554,381 shares of the biopharmaceutical company’s stock valued at $62,275,000 after buying an additional 2,541,301 shares during the last quarter. Finally, Omni Partners LLP acquired a new stake in shares of Array Biopharma in the second quarter valued at approximately $73,433,000.

A number of analysts have recently issued reports on the company. Piper Jaffray Companies cut Array Biopharma from an “overweight” rating to a “neutral” rating in a research report on Monday, June 17th. Leerink Swann lowered Array Biopharma from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $32.00 to $46.25 in a research note on Tuesday, June 18th. Cowen reiterated a “buy” rating and set a $25.00 target price on shares of Array Biopharma in a research note on Monday, June 17th. Wells Fargo & Co lowered Array Biopharma from an “outperform” rating to a “market perform” rating in a research note on Monday, June 17th. Finally, SunTrust Banks lowered Array Biopharma from a “buy” rating to a “hold” rating in a research note on Monday, June 17th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $37.13.

Shares of NASDAQ ARRY remained flat at $$47.85 during trading hours on Friday. The stock had a trading volume of 206,500 shares, compared to its average volume of 4,985,577. The company has a market cap of $10.68 billion, a price-to-earnings ratio of -65.55 and a beta of 1.70. The company has a quick ratio of 5.65, a current ratio of 5.70 and a debt-to-equity ratio of 0.45. Array Biopharma Inc has a one year low of $12.56 and a one year high of $47.98. The company’s 50 day simple moving average is $47.85 and its two-hundred day simple moving average is $35.12.

About Array Biopharma

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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