Swiss National Bank lifted its stake in Array Biopharma Inc (NASDAQ:ARRY) by 3.3% in the 1st quarter, Holdings Channel reports. The firm owned 368,900 shares of the biopharmaceutical company’s stock after purchasing an additional 11,800 shares during the period. Swiss National Bank’s holdings in Array Biopharma were worth $8,994,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. FMR LLC raised its stake in Array Biopharma by 16.9% in the fourth quarter. FMR LLC now owns 31,693,502 shares of the biopharmaceutical company’s stock valued at $451,632,000 after buying an additional 4,591,866 shares in the last quarter. BlackRock Inc. raised its stake in Array Biopharma by 0.4% in the first quarter. BlackRock Inc. now owns 17,023,177 shares of the biopharmaceutical company’s stock valued at $415,026,000 after buying an additional 60,977 shares in the last quarter. Artal Group S.A. raised its stake in Array Biopharma by 31.6% in the fourth quarter. Artal Group S.A. now owns 2,500,000 shares of the biopharmaceutical company’s stock valued at $35,625,000 after buying an additional 600,000 shares in the last quarter. Geode Capital Management LLC raised its stake in Array Biopharma by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 2,494,726 shares of the biopharmaceutical company’s stock valued at $35,549,000 after buying an additional 174,315 shares in the last quarter. Finally, Sectoral Asset Management Inc raised its stake in Array Biopharma by 3.4% in the fourth quarter. Sectoral Asset Management Inc now owns 2,165,767 shares of the biopharmaceutical company’s stock valued at $30,862,000 after buying an additional 71,600 shares in the last quarter.
ARRY opened at $29.42 on Friday. 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 Inc has a one year low of $12.56 and a one year high of $29.81. The stock has a market cap of $6.45 billion, a PE ratio of -40.30 and a beta of 1.16.
Array Biopharma (NASDAQ:ARRY) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.04. Array Biopharma had a negative return on equity of 48.51% and a negative net margin of 52.64%. The firm had revenue of $64.68 million for the quarter, compared to analyst estimates of $54.04 million. During the same quarter last year, the company posted ($0.11) earnings per share. The business’s revenue was down 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that Array Biopharma Inc will post -0.51 EPS for the current year.
In related news, insider Victor Sandor sold 36,134 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $27.58, for a total transaction of $996,575.72. Following the transaction, the insider now owns 225,271 shares of the company’s stock, valued at $6,212,974.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 180,011 shares of company stock worth $4,862,502. Corporate insiders own 2.10% of the company’s stock.
A number of analysts have recently commented on ARRY shares. Zacks Investment Research upgraded Array Biopharma from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Friday, May 10th. SunTrust Banks lifted their target price on Array Biopharma to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Cantor Fitzgerald lifted their target price on Array Biopharma from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. lifted their target price on Array Biopharma from $18.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Finally, Piper Jaffray Companies lifted their target price on Array Biopharma from $28.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Array Biopharma currently has an average rating of “Buy” and a consensus target price of $28.70.
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Array Biopharma 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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