Pictet Asset Management Ltd. lowered its holdings in shares of Array Biopharma Inc (NASDAQ:ARRY) by 79.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 428,974 shares of the biopharmaceutical company’s stock after selling 1,634,985 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Array Biopharma were worth $19,874,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Alpha Windward LLC bought a new position in shares of Array Biopharma during the 2nd quarter valued at $28,000. Cornerstone Advisors Inc. grew its holdings in shares of Array Biopharma by 38.2% during the 1st quarter. Cornerstone Advisors Inc. now owns 2,226 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 615 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Array Biopharma during the 1st quarter valued at $84,000. Quantamental Technologies LLC bought a new position in shares of Array Biopharma during the 2nd quarter valued at $117,000. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Array Biopharma by 1,311.8% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 2,979 shares of the biopharmaceutical company’s stock valued at $138,000 after purchasing an additional 2,768 shares during the last quarter.

Several equities analysts recently commented on ARRY shares. Piper Jaffray Companies lowered shares of Array Biopharma from an “overweight” rating to a “neutral” rating in a report on Monday, June 17th. Cantor Fitzgerald lowered shares of Array Biopharma from an “overweight” rating to a “neutral” rating and increased their target price for the company from $34.00 to $48.00 in a report on Monday, July 8th. Jefferies Financial Group lowered shares of Array Biopharma from a “buy” rating to a “hold” rating in a report on Monday, June 17th. Svb Leerink cut shares of Array Biopharma from an “outperform” rating to a “market perform” rating and increased their price target for the company from $32.00 to $48.00 in a research report on Tuesday, June 18th. Finally, SunTrust Banks cut shares of Array Biopharma from a “buy” rating to a “hold” rating in a research report on Monday, June 17th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Array Biopharma presently has an average rating of “Hold” and a consensus target price of $37.13.

ARRY remained flat at $$47.85 during trading on Friday. 206,500 shares of the company’s stock traded hands, 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 debt-to-equity ratio of 0.45, a current ratio of 5.70 and a quick ratio of 5.65. The company has a 50-day moving average price of $47.79 and a 200-day moving average price of $34.26. Array Biopharma Inc has a fifty-two week low of $12.56 and a fifty-two week high of $47.98.

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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