Advisory Services Network LLC acquired a new stake in shares of Array Biopharma Inc (NASDAQ:ARRY) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,442 shares of the biopharmaceutical company’s stock, valued at approximately $84,000.
A number of other institutional investors have also recently bought and sold shares of ARRY. Cornerstone Advisors Inc. raised its stake in shares of Array Biopharma by 38.2% in the 1st quarter. Cornerstone Advisors Inc. now owns 2,226 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 615 shares in the last quarter. Bank of Montreal Can increased its position in shares of Array Biopharma by 47.3% during the 4th quarter. Bank of Montreal Can now owns 5,879 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 1,888 shares in the last quarter. Advisor Group Inc. increased its position in shares of Array Biopharma by 39.2% during the 4th quarter. Advisor Group Inc. now owns 6,105 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 1,720 shares in the last quarter. Raymond James & Associates acquired a new stake in shares of Array Biopharma during the 4th quarter worth about $147,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Array Biopharma during the 4th quarter worth about $166,000.
In other news, insider Victor Sandor sold 40,634 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $26.50, for a total value of $1,076,801.00. Following the completion of the sale, the insider now owns 278,326 shares of the company’s stock, valued at $7,375,639. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 180,011 shares of company stock worth $4,862,502. 2.10% of the stock is owned by corporate insiders.
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, beating the consensus estimate of ($0.21) by $0.04. The firm had revenue of $64.68 million during the quarter, compared to analysts’ expectations of $54.04 million. Array Biopharma had a negative net margin of 52.64% and a negative return on equity of 48.51%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.11) EPS. On average, research analysts anticipate that Array Biopharma Inc will post -0.51 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on ARRY shares. SunTrust Banks dropped their target price on shares of Malibu Boats to $48.00 and set a “buy” rating for the company in a research report on Monday, June 17th. Zacks Investment Research upgraded shares of Garrett Motion from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. BidaskClub cut shares of Zai Lab from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Wells Fargo & Co reiterated a “hold” rating and set a $68.00 target price (up previously from $65.00) on shares of Colgate-Palmolive in a research report on Monday, June 17th. Finally, Cowen restated a “buy” rating on shares of Kura Oncology in a research report on Monday, June 17th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $37.13.
About Array Biopharma
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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