Equities research analysts expect that ArQule, Inc. (NASDAQ:ARQL) will report $2.44 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for ArQule’s earnings, with estimates ranging from $1.50 million to $3.50 million. The business is scheduled to report its next earnings results on Thursday, November 8th.
On average, analysts expect that ArQule will report full year sales of $23.21 million for the current year, with estimates ranging from $21.50 million to $27.08 million. For the next financial year, analysts expect that the business will post 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 analysts that that provide coverage for ArQule.
ArQule (NASDAQ:ARQL) last released 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 business had revenue of $13.71 million for the quarter, compared to analyst estimates of $7.70 million. During the same quarter in the previous year, the company posted ($0.12) EPS.
Several research analysts have weighed in on the stock. BidaskClub upgraded shares of ArQule from a “hold” rating to a “buy” rating in a report on Thursday, August 16th. Zacks Investment Research downgraded shares of ArQule from a “buy” rating to a “hold” rating in a report on Friday, August 10th. B. Riley set a $7.00 target price on shares of ArQule and gave the company a “buy” rating in a report on Wednesday, August 8th. Finally, ValuEngine downgraded shares of ArQule from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $6.65.
ARQL opened at $6.39 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 5.99 and a current ratio of 5.99. ArQule has a 1-year low of $0.97 and a 1-year high of $7.21. The firm has a market cap of $721.46 million, a price-to-earnings ratio of -16.13 and a beta of 1.01.
Hedge funds have recently made changes to their positions in the company. Millennium Management LLC raised its holdings in shares of ArQule by 1,631.7% in the first quarter. Millennium Management LLC now owns 1,726,984 shares of the biotechnology company’s stock valued at $4,974,000 after purchasing an additional 1,627,259 shares during the last quarter. EAM Investors LLC raised its holdings in shares of ArQule by 81.3% in the second quarter. EAM Investors LLC now owns 365,489 shares of the biotechnology company’s stock valued at $2,021,000 after purchasing an additional 163,922 shares during the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in shares of ArQule in the first quarter valued at about $605,000. Arnhold LLC purchased a new stake in shares of ArQule in the first quarter valued at about $432,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of ArQule by 100.0% in the first quarter. JPMorgan Chase & Co. now owns 240,268 shares of the biotechnology company’s stock valued at $692,000 after purchasing an additional 120,109 shares during the last quarter. Institutional investors own 65.10% 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.
Featured Article: Hedge Funds – How They Work For Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ArQule Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArQule and related companies with MarketBeat.com's FREE daily email newsletter.