Array BioPharma Inc. (ARRY) Director Sells $845,000.00 in Stock

Array BioPharma Inc. (NASDAQ:ARRY) Director Charles M. Baum sold 50,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $16.90, for a total transaction of $845,000.00. Following the sale, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $591,500. The sale was disclosed in a filing with the SEC, which is available at this link.

Array BioPharma Inc. (NASDAQ ARRY) opened at $17.15 on Thursday. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.39. Array BioPharma Inc. has a fifty-two week low of $6.73 and a fifty-two week high of $18.24.

Array BioPharma (NASDAQ:ARRY) last posted its earnings results on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.06. The company had revenue of $42.21 million for the quarter, compared to analyst estimates of $26.81 million. Array BioPharma had a negative net margin of 98.51% and a negative return on equity of 107.79%. Array BioPharma’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.14) EPS. equities analysts expect that Array BioPharma Inc. will post -0.9 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. TIAA CREF Investment Management LLC boosted its holdings in Array BioPharma by 9.2% in the 4th quarter. TIAA CREF Investment Management LLC now owns 828,739 shares of the biopharmaceutical company’s stock valued at $10,608,000 after purchasing an additional 70,019 shares during the last quarter. Teachers Advisors LLC boosted its holdings in Array BioPharma by 3.6% in the 4th quarter. Teachers Advisors LLC now owns 1,319,624 shares of the biopharmaceutical company’s stock valued at $16,891,000 after purchasing an additional 45,401 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Array BioPharma by 13.6% in the 4th quarter. California State Teachers Retirement System now owns 313,829 shares of the biopharmaceutical company’s stock valued at $4,017,000 after purchasing an additional 37,570 shares during the last quarter. BVF Inc. IL boosted its holdings 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 valued at $111,187,000 after purchasing an additional 2,283,973 shares during the last quarter. Finally, QS Investors LLC acquired a new position in shares of Array BioPharma in the 4th quarter worth approximately $134,000. Institutional investors own 92.92% of the company’s stock.

Several analysts recently issued reports on ARRY shares. Cantor Fitzgerald set a $15.00 price objective on shares of Array BioPharma and gave the company a “buy” rating in a research note on Tuesday, October 31st. Stifel Nicolaus reaffirmed a “buy” rating on shares of Array BioPharma in a research note on Wednesday, November 1st. SunTrust Banks reaffirmed a “buy” rating and set a $16.00 price objective on shares of Array BioPharma in a research note on Wednesday, November 1st. Jefferies Group upped their price objective on shares of Array BioPharma to $13.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Finally, Leerink Swann raised shares of Array BioPharma from a “market perform” rating to an “outperform” rating in a research note on Monday, January 22nd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $16.43.

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Array BioPharma Company 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).

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