Deerfield Management Co Lowers stake in Array Biopharma Inc (ARRY)

Array Biopharma Inc (ARRY) : Deerfield Management Co reduced its stake in Array Biopharma Inc by 12.26% during the most recent quarter end. The investment management company now holds a total of 8,361,069 shares of Array Biopharma Inc which is valued at $29,514,574 after selling 1,168,292 shares in Array Biopharma Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Array Biopharma Inc makes up approximately 1.29% of Deerfield Management Co’s portfolio.

Other Hedge Funds, Including , Zacks Investment Management sold out all of its stake in ARRY during the most recent quarter. The investment firm sold 38,181 shares of ARRY which is valued $134,779.Aperio Group boosted its stake in ARRY in the latest quarter, The investment management firm added 2,282 additional shares and now holds a total of 14,516 shares of Array Biopharma Inc which is valued at $51,241. Janney Montgomery Scott added ARRY to its portfolio by purchasing 18,000 company shares during the most recent quarter which is valued at $81,720.

Array Biopharma Inc (ARRY) witnessed a volatile trading activity on Wednesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $3.59 and reached the intraday high at $3.67. The bulls started the profit booking and pushed the shares to intraday low of $3.55. The trading session was marked by a volume range of 1,280,254 shares exchanging hands. The 52-week high of the shares is $5.98 and the 52-week low is $2.385. The market cap of the company stands at $522 M and there are 145,022,560 shares in public circulation.

On the company’s financial health, Array Biopharma Inc reported $-0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.19. The company had revenue of $43.20 million for the quarter, compared to analysts expectations of $41.70 million. The company’s revenue was up 251.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.09 EPS.

Array BioPharma Inc. is a biopharmaceutical company focused on the discovery development and commercialization of small molecule drugs to treat patients afflicted with cancer. The Company’s wholly owned clinical stage drugs include Filanesib in Phase II clinical trials is indicated for Kinesin spindle protein (KSP) inhibitor for MM; ARRY-797 in Phase II clinical trials indicated for p38 inhibitor for Lamin A/C-related dilated cardiomyopathy (LMNA-DCM); ARRY-502 in Phase II clinical trials indicated for CRTh2 antagonist for asthma and ARRY-614 in Phase I clinical trials is indicated for p38/Tie2 dual inhibitor for myelodysplastic syndromes (MDS). In addition the Company has 11 ongoing partner-funded clinical programs including two MEK inhibitors which are both in Phase III clinical trials binimetinib with Novartis and selumetinib with AstraZeneca.

Leave a Reply

Array Biopharma Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Array Biopharma Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.