Macquarie Group Ltd. boosted its stake in shares of Array Biopharma Inc (NASDAQ:ARRY) by 0.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,015,418 shares of the biopharmaceutical company’s stock after purchasing an additional 2,581 shares during the quarter. Macquarie Group Ltd. owned approximately 0.47% of Array Biopharma worth $14,470,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Sector Gamma AS acquired a new position in Array Biopharma during the 3rd quarter worth $5,078,000. Birchview Capital LP lifted its holdings in shares of Array Biopharma by 31.3% in the fourth quarter. Birchview Capital LP now owns 168,000 shares of the biopharmaceutical company’s stock valued at $2,394,000 after buying an additional 40,000 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Array Biopharma by 65.0% in the fourth quarter. Prudential Financial Inc. now owns 406,847 shares of the biopharmaceutical company’s stock valued at $5,686,000 after buying an additional 160,220 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Array Biopharma in the third quarter valued at $268,000. Finally, BlackRock Inc. raised its position in shares of Array Biopharma by 1.2% during the third quarter. BlackRock Inc. now owns 17,121,252 shares of the biopharmaceutical company’s stock worth $260,243,000 after purchasing an additional 201,556 shares during the period. Institutional investors and hedge funds own 97.92% of the company’s stock.
A number of equities research analysts have recently issued reports on ARRY shares. Zacks Investment Research lowered Array Biopharma from a “buy” rating to a “hold” rating in a research report on Monday, January 21st. Stifel Nicolaus upped their price target on Array Biopharma from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, December 12th. BidaskClub raised Array Biopharma from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Goldman Sachs Group assumed coverage on Array Biopharma in a research report on Thursday, December 13th. They set a “neutral” rating and a $20.00 price target on the stock. Finally, Leerink Swann assumed coverage on Array Biopharma in a research report on Thursday, January 17th. They set an “outperform” rating and a $28.00 price target on the stock. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $26.50.
Shares of NASDAQ ARRY opened at $24.60 on Tuesday. The company has a current ratio of 6.31, a quick ratio of 6.31 and a debt-to-equity ratio of 0.46. Array Biopharma Inc has a one year low of $12.56 and a one year high of $25.05. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of -33.70 and a beta of 1.48.
Array Biopharma (NASDAQ:ARRY) last issued its earnings results on Tuesday, February 5th. The biopharmaceutical company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.11. Array Biopharma had a negative return on equity of 44.37% and a negative net margin of 46.20%. The firm had revenue of $82.55 million for the quarter, compared to the consensus estimate of $52.44 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The business’s quarterly revenue was up 95.5% compared to the same quarter last year. On average, equities research analysts anticipate that Array Biopharma Inc will post -0.62 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This report was originally published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this report on another website, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The legal version of this report can be read at https://sportsperspectives.com/2019/04/02/macquarie-group-ltd-has-14-47-million-position-in-array-biopharma-inc-arry.html.
Array Biopharma Company 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.
Further Reading: Does the discount rate affect the economy?
Receive News & Ratings for Array Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Array Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.