Parametric Portfolio Associates LLC Has $493,000 Position in Array BioPharma Inc. (ARRY)

Parametric Portfolio Associates LLC lessened its stake in shares of Array BioPharma Inc. (NASDAQ:ARRY) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,908 shares of the biopharmaceutical company’s stock after selling 1,080 shares during the period. Parametric Portfolio Associates LLC’s holdings in Array BioPharma were worth $493,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Array BioPharma by 15.5% in the 2nd quarter. Vanguard Group Inc. now owns 19,622,890 shares of the biopharmaceutical company’s stock worth $164,243,000 after purchasing an additional 2,629,475 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Array BioPharma by 1.0% in the 2nd quarter. BlackRock Inc. now owns 12,994,700 shares of the biopharmaceutical company’s stock worth $108,765,000 after purchasing an additional 125,563 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Array BioPharma by 48.4% in the 2nd quarter. Franklin Resources Inc. now owns 8,950,982 shares of the biopharmaceutical company’s stock worth $74,920,000 after purchasing an additional 2,918,156 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Array BioPharma by 8.5% in the 2nd quarter. Northern Trust Corp now owns 2,130,493 shares of the biopharmaceutical company’s stock worth $17,832,000 after purchasing an additional 166,031 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in shares of Array BioPharma by 51.6% in the 2nd quarter. Teachers Advisors LLC now owns 1,274,728 shares of the biopharmaceutical company’s stock worth $10,669,000 after purchasing an additional 434,010 shares in the last quarter. 88.15% of the stock is owned by institutional investors.

A number of analysts have commented on ARRY shares. Piper Jaffray Companies reissued a “buy” rating and issued a $14.00 target price on shares of Array BioPharma in a report on Thursday, August 10th. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 target price on shares of Array BioPharma in a report on Thursday, August 10th. Cantor Fitzgerald set a $13.00 target price on Array BioPharma and gave the stock a “buy” rating in a report on Wednesday, August 9th. Jefferies Group LLC set a $9.00 target price on Array BioPharma and gave the stock a “buy” rating in a report on Friday, August 25th. Finally, J P Morgan Chase & Co reissued a “buy” rating and issued a $14.00 target price on shares of Array BioPharma in a report on Monday, September 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Array BioPharma presently has an average rating of “Buy” and an average price target of $13.65.

In other news, Director Kyle Lefkoff sold 38,865 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $12.31, for a total value of $478,428.15. Following the transaction, the director now directly owns 51,585 shares in the company, valued at approximately $635,011.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 3.18% of the company’s stock.

Array BioPharma Inc. (ARRY) opened at $11.48 on Friday. Array BioPharma Inc. has a 52 week low of $6.73 and a 52 week high of $13.40. The company has a debt-to-equity ratio of 0.54, a quick ratio of 5.43 and a current ratio of 5.43.

Array BioPharma (NASDAQ:ARRY) last released its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.22). The firm had revenue of $29.75 million for the quarter, compared to the consensus estimate of $33.74 million. Array BioPharma had a negative return on equity of 158.70% and a negative net margin of 89.30%. The company’s revenue for the quarter was down 24.2% on a year-over-year basis. During the same period last year, the business posted ($0.20) EPS. equities analysts predict that Array BioPharma Inc. will post -0.99 EPS for the current 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).

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

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