NJ State Employees Deferred Compensation Plan Has $554,000 Stake in Array BioPharma Inc. (ARRY)

NJ State Employees Deferred Compensation Plan cut its holdings in shares of Array BioPharma Inc. (NASDAQ:ARRY) by 25.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 45,000 shares of the biopharmaceutical company’s stock after selling 15,000 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in Array BioPharma were worth $554,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Array BioPharma by 15.5% during the 2nd quarter. Vanguard Group Inc. now owns 19,622,890 shares of the biopharmaceutical company’s stock valued at $164,243,000 after acquiring an additional 2,629,475 shares during the period. BlackRock Inc. grew its position in shares of Array BioPharma by 1.0% during the 2nd quarter. BlackRock Inc. now owns 12,994,700 shares of the biopharmaceutical company’s stock valued at $108,765,000 after acquiring an additional 125,563 shares during the period. State Street Corp grew its position in shares of Array BioPharma by 15.5% during the 2nd quarter. State Street Corp now owns 9,544,525 shares of the biopharmaceutical company’s stock valued at $79,890,000 after acquiring an additional 1,279,750 shares during the period. Franklin Resources Inc. grew its position in shares of Array BioPharma by 48.4% during the 2nd quarter. Franklin Resources Inc. now owns 8,950,982 shares of the biopharmaceutical company’s stock valued at $74,920,000 after acquiring an additional 2,918,156 shares during the period. Finally, Northern Trust Corp grew its position in shares of Array BioPharma by 8.5% during the 2nd quarter. Northern Trust Corp now owns 2,130,493 shares of the biopharmaceutical company’s stock valued at $17,832,000 after acquiring an additional 166,031 shares during the period. Hedge funds and other institutional investors own 85.61% of the company’s stock.

In other Array BioPharma news, Director Kyle Lefkoff sold 38,865 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $12.31, for a total transaction of $478,428.15. Following the transaction, the director now directly owns 51,585 shares in the company, valued at $635,011.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.18% of the company’s stock.

Array BioPharma (NASDAQ:ARRY) last issued its earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, hitting the consensus estimate of ($0.22). Array BioPharma had a negative net margin of 89.30% and a negative return on equity of 158.70%. The company had revenue of $29.75 million for the quarter, compared to analyst estimates of $33.74 million. During the same period in the prior year, the business posted ($0.20) earnings per share. The firm’s revenue for the quarter was down 24.2% compared to the same quarter last year.

ARRY has been the topic of a number of analyst reports. J P Morgan Chase & Co restated a “buy” rating and set a $14.00 target price on shares of Array BioPharma in a research report on Monday, September 11th. Zacks Investment Research cut Array BioPharma from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Jefferies Group LLC restated a “buy” rating and set a $9.00 target price on shares of Array BioPharma in a research report on Tuesday, September 12th. Cantor Fitzgerald restated an “overweight” rating and set a $15.00 target price (up from $13.00) on shares of Array BioPharma in a research report on Friday, September 8th. Finally, BidaskClub upgraded Array BioPharma from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Array BioPharma has an average rating of “Buy” and a consensus price target of $13.65.

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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).

Institutional Ownership by Quarter for Array BioPharma (NASDAQ:ARRY)

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