Array BioPharma (ARRY) Stock Price Up 0%

Shares of Array BioPharma Inc. (NASDAQ:ARRY) rose 0% during trading on Tuesday . The stock traded as high as $13.78 and last traded at $13.54. Approximately 5,807,151 shares were traded during mid-day trading, an increase of 35% from the average daily volume of 4,302,841 shares. The stock had previously closed at $13.54.

ARRY has been the subject of several recent analyst reports. Piper Jaffray Companies reissued an “overweight” rating and issued a $18.00 price target (up from $14.00) on shares of Array BioPharma in a report on Wednesday, September 20th. Cantor Fitzgerald reissued a “buy” rating and issued a $15.00 price target on shares of Array BioPharma in a report on Tuesday, September 26th. Stifel Nicolaus reissued a “buy” rating on shares of Array BioPharma in a report on Wednesday, November 1st. SunTrust Banks reissued a “buy” rating and issued a $16.00 price target on shares of Array BioPharma in a report on Wednesday, November 1st. Finally, BidaskClub cut Array BioPharma from a “hold” rating to a “sell” rating in a report on Saturday, December 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Array BioPharma presently has a consensus rating of “Buy” and an average target price of $14.10.

The firm has a market cap of $2,810.00, a P/E ratio of -18.89 and a beta of 1.91. The company has a current ratio of 5.43, a quick ratio of 5.43 and a debt-to-equity ratio of 0.54.

Array BioPharma (NASDAQ:ARRY) last released its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, meeting the consensus estimate of ($0.22). Array BioPharma had a negative return on equity of 158.70% and a negative net margin of 89.30%. The firm had revenue of $29.75 million during the quarter, compared to the consensus estimate of $33.74 million. During the same period last year, the business posted ($0.20) EPS. Array BioPharma’s quarterly revenue was down 24.2% on a year-over-year basis. research analysts predict that Array BioPharma Inc. will post -0.99 EPS for the current fiscal year.

In related news, COO Andrew R. Robbins sold 282,874 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $10.72, for a total value of $3,032,409.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ron Squarer sold 819,671 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $10.86, for a total value of $8,901,627.06. The disclosure for this sale can be found here. Company insiders own 3.18% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. purchased a new position in Array BioPharma during the third quarter worth $146,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Array BioPharma during the second quarter worth $110,000. Edge Wealth Management LLC purchased a new position in Array BioPharma during the third quarter worth $185,000. Ameritas Investment Partners Inc. increased its position in 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. Finally, Quantbot Technologies LP increased its position in Array BioPharma by 803.5% during the third quarter. Quantbot Technologies LP now owns 18,205 shares of the biopharmaceutical company’s stock worth $223,000 after buying an additional 16,190 shares in the last quarter. 98.13% of the stock is owned by hedge funds and other institutional investors.

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About Array BioPharma

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).

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