BB&T Securities LLC Has $2.14 Million Stake in Array BioPharma Inc. (ARRY)
BB&T Securities LLC grew its stake in Array BioPharma Inc. (NASDAQ:ARRY) by 8.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 173,600 shares of the biopharmaceutical company’s stock after buying an additional 14,000 shares during the quarter. BB&T Securities LLC owned 0.09% of Array BioPharma worth $2,135,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of ARRY. Bank of America Corp DE lifted its holdings in shares of Array BioPharma by 663.8% in the 1st quarter. Bank of America Corp DE now owns 284,986 shares of the biopharmaceutical company’s stock valued at $2,549,000 after buying an additional 247,672 shares during the period. Bank of Montreal Can lifted its holdings in shares of Array BioPharma by 10,802.4% in the 2nd quarter. Bank of Montreal Can now owns 164,408 shares of the biopharmaceutical company’s stock valued at $1,376,000 after buying an additional 162,900 shares during the period. Creative Planning lifted its holdings in shares of Array BioPharma by 681.8% in the 2nd quarter. Creative Planning now owns 25,800 shares of the biopharmaceutical company’s stock valued at $216,000 after buying an additional 22,500 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Array BioPharma by 19.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 157,040 shares of the biopharmaceutical company’s stock valued at $1,315,000 after buying an additional 25,118 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Array BioPharma by 52.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 24,250 shares of the biopharmaceutical company’s stock valued at $203,000 after buying an additional 8,300 shares during the period. 98.16% of the stock is owned by institutional investors and hedge funds.
In other Array BioPharma news, Director Kyle Lefkoff sold 38,865 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was 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 directly owns 51,585 shares in the company, valued at approximately $635,011.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.18% of the stock is currently owned by insiders.
Array BioPharma (NASDAQ:ARRY) last announced its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, meeting the Thomson Reuters’ 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 analyst estimates of $33.74 million. During the same quarter in the previous year, the business earned ($0.20) EPS. Array BioPharma’s revenue for the quarter was down 24.2% compared to the same quarter last year. analysts anticipate that Array BioPharma Inc. will post -0.99 EPS for the current fiscal year.
Several equities analysts have recently issued reports on ARRY shares. Cowen reissued an “outperform” rating and issued a $15.00 price objective (up previously from $14.00) on shares of Array BioPharma in a report on Monday, September 11th. BidaskClub upgraded Array BioPharma from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Cantor Fitzgerald restated a “buy” rating and issued a $15.00 price target on shares of Array BioPharma in a research note on Tuesday, September 26th. Piper Jaffray Companies restated an “overweight” rating and issued a $18.00 price target (up previously from $14.00) on shares of Array BioPharma in a research note on Wednesday, September 20th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Array BioPharma in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Array BioPharma presently has an average rating of “Buy” and an average price target of $13.65.
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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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