Maven Securities LTD purchased a new position in Array Biopharma Inc (NASDAQ:ARRY) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 61,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,819,000. Array Biopharma accounts for 1.9% of Maven Securities LTD’s holdings, making the stock its 20th largest position.
Other hedge funds have also modified their holdings of the company. Athanor Capital LP bought a new stake in shares of Array Biopharma in the second quarter valued at approximately $1,886,000. Spring Creek Capital LLC acquired a new stake in shares of Array Biopharma in the second quarter worth $6,718,000. Natixis acquired a new stake in shares of Array Biopharma in the second quarter worth $7,113,000. Vertex One Asset Management Inc. bought a new position in Array Biopharma during the second quarter worth $6,255,000. Finally, Athos Capital Ltd acquired a new position in Array Biopharma during the 2nd quarter valued at $5,209,000.
Shares of NASDAQ ARRY remained flat at $$47.85 during trading hours on Wednesday. The business’s 50 day simple moving average is $47.77 and its 200-day simple moving average is $34.14. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.65 and a current ratio of 5.70. The firm has a market cap of $10.68 billion, a PE ratio of -65.55 and a beta of 1.70. Array Biopharma Inc has a twelve month low of $12.56 and a twelve month high of $47.98.
A number of brokerages have weighed in on ARRY. Svb Leerink downgraded shares of Array Biopharma from an “outperform” rating to a “market perform” rating and increased their price target for the company from $32.00 to $48.00 in a report on Tuesday, June 18th. Goldman Sachs Group boosted their price objective on shares of Array Biopharma from $27.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, June 18th. Jefferies Financial Group downgraded shares of Array Biopharma from a “buy” rating to a “hold” rating in a report on Monday, June 17th. SunTrust Banks lowered shares of Array Biopharma from a “buy” rating to a “hold” rating in a research report on Monday, June 17th. Finally, Cowen reiterated a “buy” rating and issued a $25.00 target price on shares of Array Biopharma in a research note on Monday, June 17th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.13.
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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