Array BioPharma Inc. (NASDAQ:ARRY) CEO Ron Squarer sold 819,671 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $10.86, for a total value of $8,901,627.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Array BioPharma Inc. (NASDAQ ARRY) opened at $10.87 on Wednesday. The company has a current ratio of 5.43, a quick ratio of 5.43 and a debt-to-equity ratio of 0.54. Array BioPharma Inc. has a 52-week low of $6.73 and a 52-week high of $13.40.

Array BioPharma (NASDAQ:ARRY) last issued its earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, hitting the consensus estimate of ($0.22). The business had revenue of $29.75 million for the quarter, compared to analyst estimates of $33.74 million. Array BioPharma had a negative return on equity of 158.70% and a negative net margin of 89.30%. The business’s quarterly revenue was down 24.2% on a year-over-year basis. During the same period last year, the company posted ($0.20) EPS. equities research analysts predict that Array BioPharma Inc. will post -1.02 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. 683 Capital Management LLC purchased a new position in Array BioPharma in the third quarter valued at about $6,150,000. Neuberger Berman Group LLC purchased a new position in Array BioPharma in the third quarter valued at about $775,000. Janney Montgomery Scott LLC raised its position in Array BioPharma by 26.6% in the third quarter. Janney Montgomery Scott LLC now owns 30,700 shares of the biopharmaceutical company’s stock valued at $378,000 after purchasing an additional 6,450 shares during the period. Point72 Asset Management L.P. raised its position in Array BioPharma by 274.4% in the third quarter. Point72 Asset Management L.P. now owns 9,008,999 shares of the biopharmaceutical company’s stock valued at $110,811,000 after purchasing an additional 6,602,999 shares during the period. Finally, Crestline Management LP purchased a new position in Array BioPharma in the third quarter valued at about $729,000. 98.13% of the stock is currently owned by institutional investors and hedge funds.

ARRY has been the topic of a number of recent analyst reports. BidaskClub raised Array BioPharma from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Cantor Fitzgerald set a $15.00 price target on Array BioPharma and gave the stock a “buy” rating in a research note on Tuesday, October 31st. SunTrust Banks reissued a “buy” rating and set a $16.00 price target on shares of Array BioPharma in a research note on Wednesday, November 1st. Jefferies Group reaffirmed a “buy” rating and issued a $9.00 target price on shares of Array BioPharma in a research report on Tuesday, September 12th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $15.00 target price (up from $13.00) 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 eight have issued a buy rating to the company. Array BioPharma currently has a consensus rating of “Buy” and an average price target of $13.65.

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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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