ArQule (NASDAQ:ARQL) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
Several other equities research analysts have also recently weighed in on ARQL. ValuEngine cut ArQule from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Zacks Investment Research cut ArQule from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. B. Riley set a $7.00 target price on ArQule and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Finally, Roth Capital set a $7.00 target price on ArQule and gave the stock a “buy” rating in a research note on Friday, October 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $6.85.
ARQL stock opened at $4.06 on Wednesday. ArQule has a fifty-two week low of $1.06 and a fifty-two week high of $7.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 9.60 and a current ratio of 9.60.
ArQule (NASDAQ:ARQL) last posted its earnings results on Wednesday, October 31st. The biotechnology company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. The business had revenue of $4.98 million for the quarter, compared to analysts’ expectations of $2.44 million. During the same quarter in the previous year, the firm earned ($0.09) EPS. On average, sell-side analysts forecast that ArQule will post -0.16 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARQL. BlackRock Inc. increased its position in ArQule by 156.6% during the second quarter. BlackRock Inc. now owns 5,389,833 shares of the biotechnology company’s stock worth $29,806,000 after buying an additional 3,289,226 shares during the period. Millennium Management LLC increased its position in ArQule by 141.8% during the second quarter. Millennium Management LLC now owns 4,175,644 shares of the biotechnology company’s stock worth $23,091,000 after buying an additional 2,448,660 shares during the period. Menora Mivtachim Holdings LTD. acquired a new position in ArQule during the second quarter worth approximately $11,943,000. Northern Trust Corp increased its position in ArQule by 538.3% during the second quarter. Northern Trust Corp now owns 951,591 shares of the biotechnology company’s stock worth $5,262,000 after buying an additional 802,504 shares during the period. Finally, Handelsbanken Fonder AB acquired a new position in ArQule during the second quarter worth approximately $3,871,000. 65.43% of the stock is currently owned by institutional investors.
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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