Equities research analysts expect ArQule, Inc. (NASDAQ:ARQL) to announce sales of $2.44 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for ArQule’s earnings. The lowest sales estimate is $1.50 million and the highest is $3.50 million. The business is scheduled to report its next earnings report on Thursday, November 8th.
According to Zacks, analysts expect that ArQule will report full year sales of $23.21 million for the current financial year, with estimates ranging from $21.50 million to $27.08 million. For the next fiscal year, analysts forecast that the firm will report sales of $6.50 million per share, with estimates ranging from $3.00 million to $10.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover ArQule.
ArQule (NASDAQ:ARQL) last released its earnings results on Wednesday, August 1st. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. The business had revenue of $13.71 million for the quarter, compared to analysts’ expectations of $7.70 million. During the same quarter in the prior year, the business posted ($0.12) EPS.
ARQL has been the subject of several research analyst reports. BidaskClub upgraded ArQule from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research upgraded ArQule from a “hold” rating to a “buy” rating and set a $2.75 price target for the company in a report on Tuesday, May 8th. B. Riley raised their price target on ArQule from $4.00 to $7.50 and gave the company a “buy” rating in a report on Friday, June 29th. Needham & Company LLC raised their price target on ArQule from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, June 18th. Finally, ValuEngine upgraded ArQule from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 26th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $6.65.
NASDAQ ARQL opened at $6.27 on Monday. The company has a market cap of $594.14 million, a price-to-earnings ratio of -16.08 and a beta of 0.85. 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 has a 1-year low of $0.94 and a 1-year high of $7.21.
In other ArQule news, insider Value Fund L. P. Biotechnology sold 1,035,939 shares of the firm’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $5.00, for a total transaction of $5,179,695.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 7.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. CAPROCK Group Inc. purchased a new position in shares of ArQule in the 2nd quarter worth approximately $109,000. Zebra Capital Management LLC purchased a new position in shares of ArQule in the 2nd quarter worth approximately $115,000. State Board of Administration of Florida Retirement System purchased a new position in shares of ArQule in the 2nd quarter worth approximately $169,000. Metropolitan Life Insurance Co. NY purchased a new position in shares of ArQule in the 2nd quarter worth approximately $171,000. Finally, Voya Investment Management LLC purchased a new position in shares of ArQule in the 2nd quarter worth approximately $184,000. Hedge funds and other institutional investors own 61.89% of the company’s stock.
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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