Alps Advisors Inc. increased its holdings in Array BioPharma Inc. (NASDAQ:ARRY) by 29.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 218,328 shares of the biopharmaceutical company’s stock after purchasing an additional 49,485 shares during the quarter. Alps Advisors Inc.’s holdings in Array BioPharma were worth $2,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of ARRY. Point72 Asset Management L.P. grew its holdings in Array BioPharma by 274.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 9,008,999 shares of the biopharmaceutical company’s stock worth $110,811,000 after buying an additional 6,602,999 shares in the last quarter. Vanguard Group Inc. grew its holdings in Array BioPharma by 15.5% in the 2nd quarter. Vanguard Group Inc. now owns 19,622,890 shares of the biopharmaceutical company’s stock worth $164,243,000 after buying an additional 2,629,475 shares in the last quarter. State Street Corp grew its holdings in Array BioPharma by 15.5% in the 2nd quarter. State Street Corp now owns 9,544,525 shares of the biopharmaceutical company’s stock worth $79,890,000 after buying an additional 1,279,750 shares in the last quarter. 683 Capital Management LLC bought a new position in Array BioPharma in the 3rd quarter worth approximately $6,150,000. Finally, Goldman Sachs Group Inc. grew its holdings in Array BioPharma by 33.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,446,775 shares of the biopharmaceutical company’s stock worth $12,109,000 after buying an additional 360,535 shares in the last quarter. 98.13% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on ARRY. Stifel Nicolaus increased their price objective on Array BioPharma from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday. SunTrust Banks reissued a “buy” rating and issued a $20.00 price objective on shares of Array BioPharma in a report on Tuesday. BidaskClub lowered Array BioPharma from a “hold” rating to a “sell” rating in a report on Saturday, December 2nd. Leerink Swann increased their price objective on Array BioPharma from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Jefferies Group increased their price objective on Array BioPharma to $13.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. Array BioPharma currently has an average rating of “Buy” and a consensus target price of $16.43.
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 analysts’ consensus estimates of ($0.23) by $0.06. The firm had revenue of $42.21 million during the quarter, compared to analyst estimates of $26.81 million. Array BioPharma had a negative return on equity of 154.43% and a negative net margin of 98.51%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the company posted ($0.14) EPS. equities research analysts predict that Array BioPharma Inc. will post -0.99 earnings per share for the current year.
In other news, COO Andrew R. Robbins sold 282,874 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $10.72, for a total transaction of $3,032,409.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lunsen Gil J. Van sold 21,500 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $12.94, for a total value of $278,210.00. Following the sale, the director now directly owns 34,297 shares of the company’s stock, valued at $443,803.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,131,545 shares of company stock valued at $12,315,221. 3.18% of the stock is currently owned by corporate insiders.
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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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