Raymond James & Associates Purchases Shares of 10,297 Array Biopharma Inc (ARRY)

Raymond James & Associates purchased a new stake in Array Biopharma Inc (NASDAQ:ARRY) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 10,297 shares of the biopharmaceutical company’s stock, valued at approximately $147,000.

Other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. lifted its holdings in shares of Array Biopharma by 635.8% in the 4th quarter. Meeder Asset Management Inc. now owns 2,097 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 1,812 shares during the period. Exane Derivatives acquired a new position in shares of Array Biopharma in the 4th quarter valued at about $39,000. IFP Advisors Inc purchased a new position in shares of Array Biopharma in the 4th quarter valued at about $40,000. Bank of Montreal Can increased its stake in shares of Array Biopharma by 47.3% in the 4th quarter. Bank of Montreal Can now owns 5,879 shares of the biopharmaceutical company’s stock valued at $83,000 after purchasing an additional 1,888 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its stake in shares of Array Biopharma by 54.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 10,385 shares of the biopharmaceutical company’s stock valued at $157,000 after purchasing an additional 3,650 shares in the last quarter. 97.82% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:ARRY traded down $0.22 during trading hours on Friday, reaching $21.80. 3,123,203 shares of the stock were exchanged, compared to its average volume of 1,986,920. The company has a quick ratio of 6.31, a current ratio of 5.70 and a debt-to-equity ratio of 0.45. Array Biopharma Inc has a twelve month low of $12.56 and a twelve month high of $25.05. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of -29.86 and a beta of 1.40.

Array Biopharma (NASDAQ:ARRY) last posted its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.04. Array Biopharma had a negative return on equity of 48.51% and a negative net margin of 52.64%. The business had revenue of $64.68 million for the quarter, compared to analyst estimates of $54.04 million. During the same quarter in the prior year, the company earned ($0.11) earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts expect that Array Biopharma Inc will post -0.57 EPS for the current fiscal year.

Several equities research analysts have commented on ARRY shares. Piper Jaffray Companies reiterated a “positive” rating and set a $28.00 price objective on shares of Array Biopharma in a research note on Tuesday, January 15th. Cantor Fitzgerald assumed coverage on Array Biopharma in a report on Tuesday, January 15th. They set an “overweight” rating and a $30.00 target price on the stock. Leerink Swann assumed coverage on Array Biopharma in a report on Thursday, January 17th. They set an “outperform” rating and a $28.00 target price on the stock. Zacks Investment Research cut Array Biopharma from a “buy” rating to a “hold” rating in a report on Monday, January 21st. Finally, BidaskClub upgraded Array Biopharma from a “buy” rating to a “strong-buy” rating in a report on Friday, February 8th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $26.90.

In other news, Director Carrie Smith Cox acquired 5,000 shares of the company’s stock in a transaction on Tuesday, February 19th. The shares were bought at an average price of $23.20 per share, with a total value of $116,000.00. Following the completion of the acquisition, the director now owns 8,000 shares in the company, valued at approximately $185,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.10% of the company’s stock.

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Array Biopharma Profile

Array BioPharma Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer and other diseases in North America, Europe, and the Asia Pacific. It provides BRAFTOVITM (encorafenib) capsules in combination with MEKTOVI (binimetinib) tablets for the treatment of patients with unresectable or metastatic melanoma with a BRAF mutation.

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Institutional Ownership by Quarter for Array Biopharma (NASDAQ:ARRY)

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