Bailard Inc. bought a new stake in ArQule, Inc. (NASDAQ:ARQL) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 235,000 shares of the biotechnology company’s stock, valued at approximately $1,300,000. Bailard Inc. owned approximately 0.22% of ArQule as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Renaissance Technologies LLC lifted its position in ArQule by 15.9% during the 4th quarter. Renaissance Technologies LLC now owns 2,295,703 shares of the biotechnology company’s stock worth $3,788,000 after buying an additional 315,203 shares in the last quarter. Deutsche Bank AG acquired a new position in ArQule during the 4th quarter worth about $390,000. Millennium Management LLC acquired a new position in ArQule during the 4th quarter worth about $165,000. Candriam Luxembourg S.C.A. acquired a new position in ArQule during the 1st quarter worth about $605,000. Finally, Sphera Funds Management LTD. acquired a new position in ArQule during the 1st quarter worth about $6,521,000. Institutional investors own 61.89% of the company’s stock.
ARQL has been the topic of several research reports. ValuEngine upgraded shares of ArQule from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 26th. Zacks Investment Research downgraded shares of ArQule from a “buy” rating to a “hold” rating in a research report on Tuesday, June 5th. BidaskClub upgraded shares of ArQule from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 25th. Needham & Company LLC upped their price target on shares of ArQule from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, June 18th. Finally, Oppenheimer initiated coverage on shares of ArQule in a research report on Tuesday, June 12th. They set an “outperform” rating and a $7.00 price target on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $6.65.
In other ArQule news, insider Value Fund L. P. Biotechnology sold 1,035,939 shares of the business’s stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $5.00, for a total transaction of $5,179,695.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 7.90% of the company’s stock.
Shares of NASDAQ:ARQL opened at $6.27 on Friday. The stock has a market cap of $594.14 million, a price-to-earnings ratio of -16.08 and a beta of 0.85. ArQule, Inc. has a 1-year low of $0.94 and a 1-year high of $7.21. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.99 and a quick ratio of 5.99.
ArQule (NASDAQ:ARQL) last announced its quarterly earnings data on Wednesday, August 1st. The biotechnology company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The firm had revenue of $13.71 million for the quarter, compared to the consensus estimate of $7.70 million. During the same period in the prior year, the firm posted ($0.12) earnings per share. sell-side analysts expect that ArQule, Inc. will post -0.12 EPS for the current year.
ArQule Company Profile
ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. It offers Derazantinib (ARQ 087), a multi-kinase inhibitor of the fibroblast growth factor receptor (FGFR) family that is in a registration trial in intrahepatic cholangiocarcinoma with FGFR2 fusions.
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