ArQule (ARQL) Shares Down 9.4%

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ArQule, Inc. (NASDAQ:ARQL) was down 9.4% during mid-day trading on Monday . The company traded as low as $5.65 and last traded at $5.68. Approximately 1,585,760 shares changed hands during trading, an increase of 24% from the average daily volume of 1,282,899 shares. The stock had previously closed at $6.27.

A number of research analysts have recently commented on ARQL shares. Zacks Investment Research upgraded ArQule from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research report on Monday, July 9th. BidaskClub upgraded ArQule from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 25th. ValuEngine upgraded ArQule from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 26th. B. Riley increased their target price on ArQule from $4.00 to $7.50 and gave the company a “buy” rating in a research report on Friday, June 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $6.00 target price (up from $5.00) on shares of ArQule in a research report on Tuesday, May 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. ArQule has a consensus rating of “Buy” and an average target price of $6.65.

The company has a quick ratio of 5.99, a current ratio of 5.99 and a debt-to-equity ratio of 0.54. The stock has a market cap of $594.14 million, a P/E ratio of -14.56 and a beta of 0.85.

ArQule (NASDAQ:ARQL) last posted its earnings results on Wednesday, August 1st. The biotechnology company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted ($0.12) earnings per share. equities analysts expect that ArQule, Inc. will post -0.12 EPS for the current year.

In related news, insider Value Fund L. P. Biotechnology sold 1,035,939 shares of the firm’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $5.00, for a total value of $5,179,695.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CAPROCK Group Inc. bought a new stake in ArQule in the second quarter worth $109,000. Zebra Capital Management LLC bought a new stake in ArQule in the second quarter worth $115,000. State Board of Administration of Florida Retirement System bought a new stake in ArQule in the second quarter worth $169,000. Metropolitan Life Insurance Co. NY bought a new stake in ArQule in the second quarter worth $171,000. Finally, Voya Investment Management LLC bought a new stake in ArQule in the second quarter worth $184,000. Institutional investors own 61.89% of the company’s stock.

About ArQule (NASDAQ:ARQL)

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.

Read More: Earnings Per Share (EPS)

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