Curtis Gale Oltmans Sells 19,720 Shares of Array Biopharma Inc (ARRY) Stock

Array Biopharma Inc (NASDAQ:ARRY) General Counsel Curtis Gale Oltmans sold 19,720 shares of the company’s stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $18.06, for a total transaction of $356,143.20. Following the completion of the transaction, the general counsel now owns 23,641 shares of the company’s stock, valued at approximately $426,956.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

NASDAQ ARRY traded up $0.63 on Thursday, hitting $17.45. The stock had a trading volume of 3,790,557 shares, compared to its average volume of 3,220,814. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -23.90 and a beta of 1.17. Array Biopharma Inc has a one year low of $12.56 and a one year high of $20.21. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 0.60.

Array Biopharma (NASDAQ:ARRY) last issued its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.10. The company had revenue of $56.91 million during the quarter, compared to analyst estimates of $34.47 million. Array Biopharma had a negative net margin of 66.77% and a negative return on equity of 74.02%. The business’s revenue for the quarter was up 91.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.22) EPS. As a group, equities research analysts expect that Array Biopharma Inc will post -0.65 earnings per share for the current fiscal year.

ARRY has been the subject of several recent analyst reports. Piper Jaffray Companies restated a “positive” rating and issued a $28.00 target price on shares of Array Biopharma in a research report on Tuesday. Cowen set a $22.00 target price on shares of Array Biopharma and gave the stock a “buy” rating in a research report on Sunday, October 7th. Goldman Sachs Group initiated coverage on shares of Array Biopharma in a research report on Thursday, December 13th. They issued a “neutral” rating and a $20.00 target price for the company. Zacks Investment Research upgraded shares of Array Biopharma from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Finally, BidaskClub upgraded shares of Array Biopharma from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 18th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Array Biopharma presently has an average rating of “Buy” and a consensus target price of $25.33.

Several large investors have recently modified their holdings of ARRY. Renaissance Technologies LLC lifted its stake in shares of Array Biopharma by 14.3% in the 2nd quarter. Renaissance Technologies LLC now owns 540,352 shares of the biopharmaceutical company’s stock worth $9,067,000 after acquiring an additional 67,400 shares during the period. Morgan Stanley lifted its stake in shares of Array Biopharma by 127.7% in the 2nd quarter. Morgan Stanley now owns 3,578,476 shares of the biopharmaceutical company’s stock worth $60,048,000 after acquiring an additional 2,006,894 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Array Biopharma by 15.9% in the 2nd quarter. Macquarie Group Ltd. now owns 929,678 shares of the biopharmaceutical company’s stock worth $15,600,000 after acquiring an additional 127,853 shares during the period. Millennium Management LLC lifted its stake in shares of Array Biopharma by 10.7% in the 2nd quarter. Millennium Management LLC now owns 1,126,337 shares of the biopharmaceutical company’s stock worth $18,900,000 after acquiring an additional 108,835 shares during the period. Finally, Castleark Management LLC lifted its stake in shares of Array Biopharma by 42.9% in the 2nd quarter. Castleark Management LLC now owns 331,435 shares of the biopharmaceutical company’s stock worth $5,561,000 after acquiring an additional 99,430 shares during the period. 94.87% of the stock is owned by institutional investors.

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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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