Chicago Equity Partners LLC bought a new stake in shares of Array BioPharma (NASDAQ:ARRY) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 100,300 shares of the biopharmaceutical company’s stock, valued at approximately $1,637,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in shares of Array BioPharma during the 4th quarter valued at about $9,122,000. BVF Inc. IL raised its position in Array BioPharma by 35.7% in the 4th quarter. BVF Inc. IL now owns 8,686,498 shares of the biopharmaceutical company’s stock worth $111,187,000 after purchasing an additional 2,283,973 shares during the period. Eversept Partners LLC purchased a new stake in Array BioPharma in the 4th quarter worth about $15,844,000. American International Group Inc. raised its position in Array BioPharma by 15.9% in the 4th quarter. American International Group Inc. now owns 134,107 shares of the biopharmaceutical company’s stock worth $1,717,000 after purchasing an additional 18,401 shares during the period. Finally, Dupont Capital Management Corp raised its position in Array BioPharma by 20.1% in the 4th quarter. Dupont Capital Management Corp now owns 53,693 shares of the biopharmaceutical company’s stock worth $687,000 after purchasing an additional 8,987 shares during the period. Hedge funds and other institutional investors own 96.92% of the company’s stock.
Array BioPharma opened at $15.75 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.36, a quick ratio of 5.73 and a current ratio of 5.73. The stock has a market capitalization of $3.24 billion, a P/E ratio of -21.88 and a beta of 1.73. Array BioPharma has a 1-year low of $15.26 and a 1-year high of $15.54.
Array BioPharma (NASDAQ:ARRY) last issued its earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.11) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.11. The business had revenue of $66.37 million for the quarter, compared to the consensus estimate of $28.81 million. Array BioPharma had a negative net margin of 72.33% and a negative return on equity of 96.65%. The company’s revenue for the quarter was up 99.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.21) EPS. sell-side analysts expect that Array BioPharma will post -0.8 EPS for the current fiscal year.
A number of research firms recently weighed in on ARRY. BidaskClub raised shares of Array BioPharma from a “sell” rating to a “hold” rating in a research report on Monday. Zacks Investment Research lowered shares of Array BioPharma from a “buy” rating to a “hold” rating in a research report on Monday. Cantor Fitzgerald set a $24.00 price objective on shares of Array BioPharma and gave the stock a “buy” rating in a research report on Wednesday, May 9th. ValuEngine raised shares of Array BioPharma from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Finally, Leerink Swann increased their price objective on shares of Array BioPharma from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $18.00.
In other Array BioPharma news, insider Victor Sandor sold 156,016 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $17.71, for a total value of $2,763,043.36. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Lunsen Gil J. Van sold 21,500 shares of the company’s stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $15.19, for a total transaction of $326,585.00. Following the completion of the transaction, the director now owns 24,797 shares in the company, valued at $376,666.43. The disclosure for this sale can be found here. Insiders sold a total of 250,705 shares of company stock worth $4,282,525 over the last 90 days. Insiders own 3.18% of the company’s stock.
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 in North America, Europe, and the Asia Pacific. The company's drugs in Phase III clinical trials include Binimetinib, Encorafenib, Selumetinib, and Ipatasertib/GDC-0068 for the treatment of cancer, as well as ASC08/Danoprevir to treat hepatitis C virus.
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