Array BioPharma Sees Unusually High Options Volume (ARRY)
Array BioPharma Inc. (NASDAQ:ARRY) saw unusually large options trading on Tuesday. Traders purchased 26,569 call options on the stock. This represents an increase of 3,926% compared to the typical volume of 660 call options.
Several equities analysts have recently weighed in on ARRY shares. SunTrust Banks reiterated a “buy” rating and set a $16.00 price objective on shares of Array BioPharma in a report on Wednesday, November 1st. Stifel Nicolaus reiterated a “buy” rating on shares of Array BioPharma in a report on Wednesday, November 1st. Cantor Fitzgerald set a $15.00 price objective on Array BioPharma and gave the company a “buy” rating in a report on Tuesday, October 31st. Jefferies Group lifted their price objective on Array BioPharma to $13.00 and gave the company a “buy” rating in a report on Friday, December 22nd. Finally, BidaskClub upgraded Array BioPharma from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. One 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. The stock currently has a consensus rating of “Buy” and an average target price of $14.10.
In other news, CEO Ron Squarer sold 819,671 shares of Array BioPharma stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $10.86, for a total transaction of $8,901,627.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Andrew R. Robbins sold 282,874 shares of Array BioPharma stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $10.72, for a total value of $3,032,409.28. The disclosure for this sale can be found here. 3.18% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. North Star Investment Management Corp. raised its stake in shares of Array BioPharma by 26.0% during the 4th quarter. North Star Investment Management Corp. now owns 63,000 shares of the biopharmaceutical company’s stock worth $806,000 after purchasing an additional 13,000 shares in the last quarter. 683 Capital Management LLC bought a new stake in shares of Array BioPharma during the 3rd quarter worth approximately $6,150,000. Neuberger Berman Group LLC bought a new stake in shares of Array BioPharma during the 3rd quarter worth approximately $775,000. Janney Montgomery Scott LLC raised its stake in shares of Array BioPharma by 26.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 30,700 shares of the biopharmaceutical company’s stock worth $378,000 after purchasing an additional 6,450 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in shares of Array BioPharma by 274.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 9,008,999 shares of the biopharmaceutical company’s stock worth $110,811,000 after purchasing an additional 6,602,999 shares in the last quarter. Institutional investors own 98.13% of the company’s stock.
Shares of Array BioPharma (NASDAQ:ARRY) opened at $13.95 on Friday. The company has a market capitalization of $2,750.00, a P/E 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 has a 12 month low of $6.73 and a 12 month high of $14.40.
Array BioPharma (NASDAQ:ARRY) last released its earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) 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 analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.20) EPS. equities research analysts expect that Array BioPharma will post -0.99 earnings per share for the current fiscal year.
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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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