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

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

Array BioPharma (NASDAQ:ARRY) last released its earnings results on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ 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%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.14) EPS. equities research analysts expect that Array BioPharma Inc. will post -0.9 earnings per share for the current year.

Several equities analysts have recently commented on the stock. Cantor Fitzgerald set a $15.00 price objective on shares of Array BioPharma and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Leerink Swann upped their price objective on shares of Array BioPharma from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Zacks Investment Research lowered shares of Array BioPharma from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. BidaskClub lowered shares of Array BioPharma from a “hold” rating to a “sell” rating in a report on Saturday, December 2nd. Finally, Stifel Nicolaus upped their price objective on shares of Array BioPharma from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Array BioPharma has a consensus rating of “Buy” and a consensus price target of $16.43.

A number of institutional investors have recently added to or reduced their stakes in ARRY. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Array BioPharma by 70.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,244 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 3,834 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Array BioPharma by 7.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 15,148 shares of the biopharmaceutical company’s stock worth $127,000 after buying an additional 1,012 shares in the last quarter. QS Investors LLC acquired a new stake in Array BioPharma during the 4th quarter worth approximately $134,000. Fox Run Management L.L.C. acquired a new stake in Array BioPharma during the 3rd quarter worth approximately $146,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in Array BioPharma by 71.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 18,317 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 7,661 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Array BioPharma Inc. (ARRY) Director Charles M. Baum Sells 50,000 Shares” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2018/02/15/array-biopharma-inc-arry-director-charles-m-baum-sells-50000-shares.html.

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).

Receive News & Ratings for Array BioPharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Array BioPharma and related companies with MarketBeat.com's FREE daily email newsletter.