Landscape Capital Management L.L.C. acquired a new position in shares of Array Biopharma Inc (NASDAQ:ARRY) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 79,803 shares of the biopharmaceutical company’s stock, valued at approximately $1,021,000.
Several other hedge funds also recently made changes to their positions in the company. Ameritas Investment Partners Inc. grew its position in shares of Array Biopharma by 7.2% during the second quarter. Ameritas Investment Partners Inc. now owns 15,148 shares of the biopharmaceutical company’s stock worth $127,000 after buying an additional 1,012 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Array Biopharma by 70.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,244 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 3,834 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Array Biopharma by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 132,865 shares of the biopharmaceutical company’s stock worth $1,112,000 after purchasing an additional 4,287 shares during the period. Amalgamated Bank boosted its holdings in Array Biopharma by 23.6% in the fourth quarter. Amalgamated Bank now owns 27,101 shares of the biopharmaceutical company’s stock worth $347,000 after purchasing an additional 5,180 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Array Biopharma by 2.6% in the third quarter. Rhumbline Advisers now owns 210,685 shares of the biopharmaceutical company’s stock worth $2,591,000 after purchasing an additional 5,420 shares during the period. Institutional investors and hedge funds own 96.43% of the company’s stock.
In other Array Biopharma news, Director Lunsen Gil J. Van sold 21,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $17.16, for a total value of $368,940.00. Following the completion of the transaction, the director now directly owns 32,797 shares in the company, valued at $562,796.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Victor Sandor sold 156,016 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $17.71, for a total value of $2,763,043.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,359,061 shares of company stock worth $16,292,205. 3.18% of the stock is currently owned by insiders.
A number of research firms have issued reports on ARRY. Leerink Swann raised their target price on Array Biopharma from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Zacks Investment Research raised Array Biopharma from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Stifel Nicolaus lifted their target price on Array Biopharma from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. SunTrust Banks reaffirmed a “buy” rating and set a $20.00 target price on shares of Array Biopharma in a research note on Tuesday, February 6th. Finally, Cantor Fitzgerald set a $15.00 price target on Array Biopharma and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $16.43.
Shares of Array Biopharma Inc (ARRY) traded up $0.08 during trading hours on Wednesday, reaching $17.59. The company’s stock had a trading volume of 1,948,921 shares, compared to its average volume of 3,730,000. 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 company has a market capitalization of $3,650.00, a PE ratio of -22.84 and a beta of 1.80. Array Biopharma Inc has a 52-week low of $6.73 and a 52-week high of $18.78.
Array Biopharma (NASDAQ:ARRY) last issued its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.06. Array Biopharma had a negative return on equity of 107.79% and a negative net margin of 98.51%. The business had revenue of $42.21 million for the quarter, compared to analyst estimates of $26.81 million. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. equities research analysts forecast that Array Biopharma Inc will post -0.87 earnings per share for the current fiscal year.
Array Biopharma 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).
Receive News & Ratings for Array Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Array Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.