Cornerstone Capital Management Holdings LLC. Decreases Position in Array Biopharma Inc (ARRY)

Cornerstone Capital Management Holdings LLC. decreased its position in shares of Array Biopharma Inc (NASDAQ:ARRY) by 9.2% during the 4th quarter, HoldingsChannel reports. The fund owned 79,400 shares of the biopharmaceutical company’s stock after selling 8,000 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Array Biopharma were worth $1,015,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in Array Biopharma by 12.6% during the 4th quarter. BlackRock Inc. now owns 15,252,802 shares of the biopharmaceutical company’s stock worth $195,236,000 after acquiring an additional 1,707,369 shares in the last quarter. Franklin Resources Inc. lifted its stake in Array Biopharma by 12.0% during the 4th quarter. Franklin Resources Inc. now owns 9,169,836 shares of the biopharmaceutical company’s stock worth $117,374,000 after acquiring an additional 979,072 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in 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 acquiring an additional 6,602,999 shares in the last quarter. BVF Inc. IL lifted its stake in Array Biopharma by 35.7% during the 4th quarter. BVF Inc. IL now owns 8,686,498 shares of the biopharmaceutical company’s stock worth $111,187,000 after acquiring an additional 2,283,973 shares in the last quarter. Finally, Driehaus Capital Management LLC lifted its stake in Array Biopharma by 19.8% during the 4th quarter. Driehaus Capital Management LLC now owns 2,513,682 shares of the biopharmaceutical company’s stock worth $32,175,000 after acquiring an additional 416,277 shares in the last quarter. 96.41% of the stock is currently owned by hedge funds and other institutional investors.

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In other news, Director Lunsen Gil J. Van sold 21,500 shares of the stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $16.76, for a total value of $360,340.00. Following the transaction, the director now owns 26,297 shares in the company, valued at approximately $440,737.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Victor Sandor sold 156,016 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $17.71, for a total value of $2,763,043.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 278,016 shares of company stock worth $4,718,508. Company insiders own 3.18% of the company’s stock.

A number of research firms have issued reports on ARRY. BidaskClub raised Array Biopharma from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research raised Array Biopharma from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Leerink Swann increased their price target on Array Biopharma from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Stifel Nicolaus increased their price target on Array Biopharma from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $20.00 price target on shares of Array Biopharma in a research report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $16.43.

ARRY stock opened at $16.32 on Friday. The company has a current ratio of 6.17, a quick ratio of 6.17 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $3,388.64, a price-to-earnings ratio of -22.67 and a beta of 1.80. Array Biopharma Inc has a 1 year low of $6.73 and a 1 year high of $18.78.

Array Biopharma (NASDAQ:ARRY) last posted its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. Array Biopharma had a negative return on equity of 107.79% and a negative net margin of 98.51%. The company had revenue of $42.21 million for the quarter, compared to analyst estimates of $26.81 million. During the same quarter last year, the company earned ($0.14) EPS. Array Biopharma’s revenue for the quarter was down 5.2% compared to the same quarter last year. equities analysts forecast that Array Biopharma Inc will post -0.88 EPS for the current fiscal year.

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

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