Array Biopharma Inc (NASDAQ:ARRY) has been assigned an average rating of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat reports. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $38.03.
A number of equities analysts have issued reports on ARRY shares. Jefferies Financial Group cut their price target on Huntsman from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, June 17th. BidaskClub cut Zai Lab from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded Garrett Motion from a “sell” rating to a “hold” rating in a report on Friday, May 10th. JPMorgan Chase & Co. restated a “buy” rating and set a $69.00 price target on shares of Daimler in a report on Friday. Finally, Wells Fargo & Co restated a “hold” rating and set a $68.00 price target (up from $65.00) on shares of Colgate-Palmolive in a report on Monday, June 17th.
In other news, insider Victor Sandor sold 40,634 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $26.50, for a total transaction of $1,076,801.00. Following the transaction, the insider now directly owns 278,326 shares of the company’s stock, valued at $7,375,639. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 180,011 shares of company stock worth $4,862,502 over the last ninety days. 2.10% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Candriam Luxembourg S.C.A. raised its position in Array Biopharma by 24.2% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 1,678,710 shares of the biopharmaceutical company’s stock valued at $23,921,000 after buying an additional 327,522 shares during the last quarter. Federated Investors Inc. PA increased its position in shares of Array Biopharma by 54,037.6% during the 1st quarter. Federated Investors Inc. PA now owns 563,031 shares of the biopharmaceutical company’s stock valued at $13,726,000 after purchasing an additional 561,991 shares during the last quarter. Fiera Capital Corp increased its position in shares of Array Biopharma by 30.9% during the 1st quarter. Fiera Capital Corp now owns 1,843,220 shares of the biopharmaceutical company’s stock valued at $44,938,000 after purchasing an additional 435,147 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Array Biopharma by 65.0% during the 4th quarter. Prudential Financial Inc. now owns 406,847 shares of the biopharmaceutical company’s stock valued at $5,686,000 after purchasing an additional 160,220 shares during the last quarter. Finally, Gotham Asset Management LLC purchased a new stake in shares of Array Biopharma during the 4th quarter valued at $323,000.
ARRY stock traded down $0.16 during trading on Friday, hitting $46.66. The company had a trading volume of 3,414,841 shares, compared to its average volume of 10,989,087. The stock has a 50-day moving average price of $37.71. Array Biopharma has a one year low of $12.56 and a one year high of $47.05. The firm has a market cap of $10.41 billion, a PE ratio of -63.92 and a beta of 1.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.65 and a current ratio of 5.70.
Array Biopharma (NASDAQ:ARRY) last posted its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.04. The firm had revenue of $64.68 million for the quarter, compared to analysts’ expectations of $54.04 million. Array Biopharma had a negative return on equity of 48.51% and a negative net margin of 52.64%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.11) EPS. Equities analysts expect that Array Biopharma will post -0.51 earnings per share for the current fiscal year.
Array Biopharma Company 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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