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Is Array Biopharma Inc (ARRY) A Good Stock To Buy?

Legendary investors such as Leon Cooperman and Seth Klarman earn enormous amounts of money for themselves and their investors by doing in-depth research on small-cap stocks that big brokerage houses don’t publish. Small cap stocks -especially when they are screened well- can generate substantial outperformance versus a boring index fund. That’s why we analyze the activity of those successful funds in these small-cap stocks. In the following paragraphs, we analyze Array Biopharma Inc (NASDAQ:ARRY) from the perspective of those successful funds.

Array Biopharma Inc (NASDAQ:ARRY) was in 32 hedge funds’ portfolios at the end of the third quarter of 2016. ARRY has seen a large increase in hedge fund interest in recent months. There were 17 hedge funds in our database with ARRY holdings at the end of June. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Red Rock Resorts Inc (NASDAQ:RRR), CIRCOR International, Inc. (NYSE:CIR), and Forward Pharma A/S (NASDAQ:FWP) to gather more data points.

We care about hedge fund sentiment because historically hedge funds’ stock picks delivered strong risk adjusted returns. There are certain segments of the market where hedge funds’ stock picks performed much better than its benchmarks. For instance, the 30 most...