ProShare Advisors LLC Has $861,000 Holdings in Array BioPharma Inc. (ARRY)
ProShare Advisors LLC trimmed its position in shares of Array BioPharma Inc. (NASDAQ:ARRY) by 6.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,920 shares of the biopharmaceutical company’s stock after selling 6,547 shares during the period. ProShare Advisors LLC owned about 0.06% of Array BioPharma worth $861,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of ARRY. BlackRock Inc. raised its holdings in shares of Array BioPharma by 38,275.2% during the first quarter. BlackRock Inc. now owns 12,869,137 shares of the biopharmaceutical company’s stock valued at $115,049,000 after acquiring an additional 12,835,602 shares in the last quarter. Vanguard Group Inc. lifted its stake in Array BioPharma by 56.8% in the first quarter. Vanguard Group Inc. now owns 16,993,415 shares of the biopharmaceutical company’s stock worth $151,921,000 after acquiring an additional 6,156,120 shares during the period. Franklin Resources Inc. lifted its stake in Array BioPharma by 48.4% in the second quarter. Franklin Resources Inc. now owns 8,950,982 shares of the biopharmaceutical company’s stock worth $74,920,000 after acquiring an additional 2,918,156 shares during the period. State Street Corp lifted its stake in Array BioPharma by 28.6% in the first quarter. State Street Corp now owns 8,264,775 shares of the biopharmaceutical company’s stock worth $73,882,000 after acquiring an additional 1,837,047 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Array BioPharma by 149.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,086,240 shares of the biopharmaceutical company’s stock worth $9,711,000 after acquiring an additional 651,057 shares during the period. 87.04% of the stock is owned by hedge funds and other institutional investors.
Array BioPharma Inc. (NASDAQ:ARRY) opened at 12.30 on Monday. The firm has a 50-day moving average price of $9.34 and a 200-day moving average price of $8.78. Array BioPharma Inc. has a 12-month low of $3.63 and a 12-month high of $13.40. The company’s market cap is $2.11 billion.
Array BioPharma (NASDAQ:ARRY) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.04. The business had revenue of $33.80 million for the quarter, compared to the consensus estimate of $28.64 million. Array BioPharma had a negative net margin of 77.44% and a negative return on equity of 1,187.18%. The company’s revenue for the quarter was down 21.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.17) EPS. On average, equities research analysts forecast that Array BioPharma Inc. will post ($0.99) earnings per share for the current fiscal year.
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Several analysts recently weighed in on ARRY shares. Piper Jaffray Companies reiterated a “buy” rating and issued a $14.00 price target on shares of Array BioPharma in a report on Thursday, August 10th. Cantor Fitzgerald upped their price objective on shares of Array BioPharma from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, September 11th. BidaskClub upgraded shares of Array BioPharma from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd. Zacks Investment Research lowered shares of Array BioPharma from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $15.00 target price (up from $14.00) on shares of Array BioPharma in a research report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Array BioPharma presently has a consensus rating of “Buy” and a consensus price target of $13.10.
In other news, Director Kyle Lefkoff sold 38,865 shares of Array BioPharma stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $12.31, for a total transaction of $478,428.15. Following the completion of the sale, the director now owns 51,585 shares of the company’s stock, valued at $635,011.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.18% of the company’s stock.
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).
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