Trader Alert: Unusual Volume Spotted in Array BioPharma Inc. (NASDAQ:ARRY)

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13 September, 2017

Looking at the stock's movement on the chart, Array BioPharma Inc. recorded a 52-week high of $13.40. Analysts have a mean recommendation of 1.80 on this stock. The average volume of a stock suggests the liquidity of a particular company. Cantor Fitzgerald maintained the shares of ARRY in report on Tuesday, May 30 with "Buy" rating. BidaskClub upgraded Array BioPharma from a "strong sell" rating to a "sell" rating in a research report on Friday, August 25th. Zacks Investment Research cut Array BioPharma from a "hold" rating to a "sell" rating in a research report on Tuesday, July 11th. Stifel Nicolaus raised their price objective on shares of Array BioPharma from $13.00 to $15.00 and gave the stock a buy rating in a report on Monday. While the stock price moved along with the volume change, shares are touching $9.73.

Among 17 analysts covering Marathon Petroleum Corp (NYSE:MPC), 13 have Buy rating, 0 Sell and 4 Hold. The stock now has a consensus rating of Buy and an average target price of $12.65.

Array BioPharma (NASDAQ:ARRY) traded up 0.76% on Monday, hitting $10.61. The firm's market capitalization is $1.82 billion. (ARRY) stock price comparison to its moving averages, shares of company are 21.65% away from the 50-day moving average and 11.96% away from 20-day average.

Array BioPharma (NASDAQ:ARRY) last announced its quarterly earnings results on Wednesday, August 9th.

P/E of the company is not reported. Orbimed Advisors has invested 1.8% in Array Biopharma Inc (NASDAQ:ARRY). The company had revenue of $33.80 million during the quarter, compared to the consensus estimate of $28.64 million. Analysts are forecasting earnings of $-0.23 on a per share basis this quarter. Array BioPharma's quarterly revenue was down 21.8% compared to the same quarter previous year. Equities research analysts anticipate that Array BioPharma will post ($0.99) earnings per share for the current year.

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Large investors have recently added to or reduced their stakes in the business.

The top 5 institutional holders, in ascending order, are as follows: VANGUARD GROUP INC with 19.62 million shares, FMR LLC with 18.53 million shares, REDMILE GROUP, LLC with 16.09 million shares, ORBIMED ADVISORS LLC with 14.18 million shares, and BLACKROCK INC. with 12.99 million shares. First Light Asset Mgmt Ltd Liability Co owns 1.00 million shares or 3.86% of their United States portfolio. Great West Life Assurance Co. Can increased its position in shares of Array BioPharma by 77.0% during the first quarter. Shares are moving -7.41% lower on solid volume. Franklin Resources Inc. increased its stake in shares of Array BioPharma by 48.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 94,600 shares of the biopharmaceutical company's stock worth $859,000 after acquiring an additional 24,600 shares during the period. Bank of New York Mellon Corp now owns 842,076 shares of the biopharmaceutical company's stock worth $7,528,000 after acquiring an additional 37,974 shares during the period. The percentage of shares being held by the company management was 0.5% while institutional stake was 27.1%.


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