Fisher Asset Management LLC Has $1.12 Million Position in Array BioPharma Inc. (NASDAQ:ARRY)

Fisher Asset Management LLC boosted its position in Array BioPharma Inc. (NASDAQ:ARRY) by 72.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,180 shares of the biopharmaceutical company’s stock after buying an additional 56,166 shares during the period. Fisher Asset Management LLC owned about 0.08% of Array BioPharma worth $1,123,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in shares of Array BioPharma during the fourth quarter worth approximately $619,000. Guggenheim Capital LLC bought a new stake in Array BioPharma during the fourth quarter worth about $2,357,000. AQR Capital Management LLC bought a new stake in Array BioPharma during the fourth quarter worth about $1,152,000. Norges Bank bought a new stake in Array BioPharma during the fourth quarter worth about $440,000. Finally, UBS Asset Management Americas Inc. increased its stake in Array BioPharma by 937.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 853,469 shares of the biopharmaceutical company’s stock worth $7,502,000 after buying an additional 771,189 shares during the last quarter. Institutional investors and hedge funds own 96.27% of the company’s stock.

Array BioPharma Inc. (NASDAQ ARRY) traded down 0.11% during mid-day trading on Friday, reaching $8.77. 1,604,981 shares of the company traded hands. The company’s market capitalization is $1.50 billion. Array BioPharma Inc. has a 52-week low of $3.10 and a 52-week high of $13.40. The stock has a 50 day moving average price of $8.26 and a 200-day moving average price of $9.01.

Array BioPharma (NASDAQ:ARRY) last posted its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.04. Array BioPharma had a negative return on equity of 1,187.18% and a negative net margin of 77.44%. The company had revenue of $33.80 million during the quarter, compared to analysts’ expectations of $28.64 million. During the same period in the prior year, the business earned ($0.17) earnings per share. Array BioPharma’s revenue for the quarter was down 21.8% compared to the same quarter last year. Analysts expect that Array BioPharma Inc. will post ($0.97) EPS for the current fiscal year.

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A number of equities research analysts recently issued reports on ARRY shares. Piper Jaffray Companies restated a “buy” rating and issued a $14.00 target price on shares of Array BioPharma in a report on Thursday, August 10th. Cantor Fitzgerald set a $13.00 target price on shares of Array BioPharma and gave the company a “buy” rating in a report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $13.00 price target on shares of Array BioPharma in a research report on Thursday, August 10th. Jefferies Group LLC set a $8.00 price target on shares of Array BioPharma and gave the company a “buy” rating in a research report on Saturday, May 6th. Finally, Zacks Investment Research raised shares of Array BioPharma from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $11.54.

About Array BioPharma

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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