Array Biopharma Inc (NASDAQ:ARRY) was the recipient of some unusual options trading on Wednesday. Stock investors purchased 2,021 put options on the company. This represents an increase of approximately 2,027% compared to the average daily volume of 95 put options.

In other news, insider Victor Sandor sold 9,687 shares of Array Biopharma stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $15.38, for a total transaction of $148,986.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason Haddock sold 20,000 shares of Array Biopharma stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $13.92, for a total value of $278,400.00. Following the sale, the chief financial officer now owns 35,393 shares of the company’s stock, valued at approximately $492,670.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,687 shares of company stock valued at $1,064,816. Corporate insiders own 2.10% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC bought a new stake in Array Biopharma in the 2nd quarter worth approximately $101,000. Ladenburg Thalmann Financial Services Inc. lifted its position in Array Biopharma by 107.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,614 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 4,470 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in Array Biopharma in the 3rd quarter worth approximately $164,000. Oppenheimer Asset Management Inc. bought a new stake in Array Biopharma in the 2nd quarter worth approximately $191,000. Finally, GSA Capital Partners LLP bought a new stake in Array Biopharma in the 1st quarter worth approximately $208,000. Institutional investors own 91.81% of the company’s stock.

A number of analysts have recently issued reports on the company. BidaskClub upgraded Array Biopharma from a “strong sell” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research downgraded Array Biopharma from a “hold” rating to a “sell” rating in a research report on Tuesday. Cowen set a $22.00 price target on Array Biopharma and gave the company a “buy” rating in a research report on Sunday, October 7th. Finally, Guggenheim assumed coverage on Array Biopharma in a research report on Monday, September 17th. They set a “buy” rating for the company. Two analysts have rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $22.44.

Shares of ARRY opened at $15.46 on Friday. The stock has a market cap of $3.24 billion, a PE ratio of -20.87 and a beta of 1.11. The company has a quick ratio of 4.71, a current ratio of 4.71 and a debt-to-equity ratio of 0.42. Array Biopharma has a 12-month low of $9.98 and a 12-month high of $20.21.

Array Biopharma (NASDAQ:ARRY) last released its earnings results on Tuesday, August 14th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.01). The firm had revenue of $35.40 million during the quarter, compared to the consensus estimate of $38.73 million. Array Biopharma had a negative return on equity of 80.54% and a negative net margin of 84.79%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.17) EPS. On average, equities analysts forecast that Array Biopharma will post -0.72 earnings per share for the current year.

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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