Andrew R. Robbins Sells 282,874 Shares of Array BioPharma Inc. (ARRY) Stock

Array BioPharma Inc. (NASDAQ:ARRY) COO Andrew R. Robbins sold 282,874 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $10.72, for a total transaction of $3,032,409.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of Array BioPharma Inc. (NASDAQ:ARRY) traded down $0.03 during trading on Thursday, reaching $13.95. 3,879,300 shares of the company’s stock traded hands, compared to its average volume of 4,035,836. The company has a market cap of $2,750.00, a price-to-earnings ratio of -18.85 and a beta of 1.91. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.43 and a quick ratio of 5.43. Array BioPharma Inc. has a 12-month low of $6.73 and a 12-month high of $14.40.

Array BioPharma (NASDAQ:ARRY) last announced its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.22). The firm had revenue of $29.75 million for the quarter, compared to analyst estimates of $33.74 million. Array BioPharma had a negative net margin of 89.30% and a negative return on equity of 158.70%. The business’s revenue for the quarter was down 24.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.20) EPS. sell-side analysts forecast that Array BioPharma Inc. will post -0.99 EPS for the current year.

A number of institutional investors have recently made changes to their positions in ARRY. Point72 Asset Management L.P. boosted its stake in shares of Array BioPharma by 274.4% in the 3rd 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 in the last quarter. Franklin Resources Inc. lifted its position in Array BioPharma by 48.4% during the 2nd quarter. Franklin Resources Inc. now owns 8,950,982 shares of the biopharmaceutical company’s stock worth $74,920,000 after buying an additional 2,918,156 shares in the last quarter. Vanguard Group Inc. lifted its position in Array BioPharma by 15.5% during the 2nd quarter. Vanguard Group Inc. now owns 19,622,890 shares of the biopharmaceutical company’s stock worth $164,243,000 after buying an additional 2,629,475 shares in the last quarter. State Street Corp lifted its position in Array BioPharma by 15.5% during the 2nd quarter. State Street Corp now owns 9,544,525 shares of the biopharmaceutical company’s stock valued at $79,890,000 after purchasing an additional 1,279,750 shares during the period. Finally, 683 Capital Management LLC acquired a new position in Array BioPharma during the 3rd quarter valued at about $6,150,000. 98.13% of the stock is currently owned by hedge funds and other institutional investors.

ARRY has been the topic of a number of research reports. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $18.00 target price (up previously from $14.00) on shares of Array BioPharma in a research report on Wednesday, September 20th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $15.00 target price on shares of Array BioPharma in a research report on Tuesday, September 26th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Array BioPharma in a research report on Wednesday, November 1st. SunTrust Banks reaffirmed a “buy” rating and set a $16.00 target price on shares of Array BioPharma in a research report on Wednesday, November 1st. Finally, BidaskClub lowered shares of Array BioPharma from a “hold” rating to a “sell” rating in a research report on Saturday, December 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $14.10.

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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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