342,571 Shares in Array Biopharma Inc (ARRY) Acquired by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC acquired a new stake in shares of Array Biopharma Inc (NASDAQ:ARRY) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 342,571 shares of the biopharmaceutical company’s stock, valued at approximately $8,352,000.

Other large investors have also recently modified their holdings of the company. Candriam Luxembourg S.C.A. grew its stake in Array Biopharma by 24.2% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 1,678,710 shares of the biopharmaceutical company’s stock valued at $23,921,000 after acquiring an additional 327,522 shares in the last quarter. Birchview Capital LP grew its stake in Array Biopharma by 31.3% during the fourth quarter. Birchview Capital LP now owns 168,000 shares of the biopharmaceutical company’s stock valued at $2,394,000 after acquiring an additional 40,000 shares in the last quarter. Prudential Financial Inc. grew its stake in Array Biopharma by 65.0% during the fourth quarter. Prudential Financial Inc. now owns 406,847 shares of the biopharmaceutical company’s stock valued at $5,686,000 after acquiring an additional 160,220 shares in the last quarter. Gotham Asset Management LLC bought a new stake in Array Biopharma during the fourth quarter valued at approximately $323,000. Finally, Advisor Group Inc. lifted its position in Array Biopharma by 39.2% during the fourth quarter. Advisor Group Inc. now owns 6,105 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 1,720 shares during the last quarter. 98.35% of the stock is owned by institutional investors.

Shares of Array Biopharma stock opened at $21.86 on Monday. Array Biopharma Inc has a 1 year low of $12.56 and a 1 year high of $25.05. The company has a market cap of $4.85 billion, a price-to-earnings ratio of -29.95 and a beta of 1.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.70 and a quick ratio of 5.65.

Array Biopharma (NASDAQ:ARRY) last announced its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.04. Array Biopharma had a negative net margin of 52.64% and a negative return on equity of 48.51%. The business had revenue of $64.68 million during the quarter, compared to analyst estimates of $54.04 million. During the same period in the previous year, the business posted ($0.11) earnings per share. Array Biopharma’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities research analysts predict that Array Biopharma Inc will post -0.51 earnings per share for the current fiscal year.

In other Array Biopharma news, Director Carrie Smith Cox acquired 5,000 shares of the stock in a transaction dated Tuesday, February 19th. The stock was purchased at an average cost of $23.20 per share, for a total transaction of $116,000.00. Following the acquisition, the director now owns 8,000 shares in the company, valued at approximately $185,600. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

Several brokerages have issued reports on ARRY. Zacks Investment Research lowered shares of Array Biopharma from a “buy” rating to a “hold” rating in a research report on Monday, January 28th. Cantor Fitzgerald set a $30.00 target price on shares of Array Biopharma and gave the company a “buy” rating in a research report on Tuesday, February 5th. JPMorgan Chase & Co. lifted their target price on shares of Array Biopharma from $18.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Cowen set a $25.00 target price on shares of Array Biopharma and gave the company a “buy” rating in a research report on Sunday, May 5th. Finally, BidaskClub lowered shares of Array Biopharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Array Biopharma currently has an average rating of “Buy” and an average target price of $26.90.

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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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