Shares of ArQule, Inc. (NASDAQ:ARQL) have been given an average recommendation of “Buy” by the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $12.20.
A number of equities research analysts recently commented on the stock. Oppenheimer set a $13.00 price target on shares of ArQule and gave the stock a “buy” rating in a report on Thursday, July 11th. BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. B. Riley reaffirmed a “buy” rating on shares of IMV in a report on Wednesday, May 29th. Zacks Investment Research raised shares of GCP Applied Technologies from a “sell” rating to a “hold” rating in a report on Friday, May 31st. Finally, ValuEngine raised shares of Whiting Petroleum from a “strong sell” rating to a “sell” rating in a report on Friday, April 5th.
Shares of ARQL traded down $0.29 during trading hours on Friday, hitting $10.33. The stock had a trading volume of 1,169,899 shares, compared to its average volume of 2,215,204. The company has a quick ratio of 6.45, a current ratio of 6.45 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $9.29. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -64.56 and a beta of 2.27. ArQule has a 1-year low of $2.23 and a 1-year high of $12.22.
ArQule (NASDAQ:ARQL) last issued its earnings results on Wednesday, May 1st. The biotechnology company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). ArQule had a negative net margin of 83.15% and a negative return on equity of 28.90%. The firm had revenue of $1.35 million during the quarter, compared to analyst estimates of $1.70 million. On average, research analysts forecast that ArQule will post -0.37 EPS for the current fiscal year.
In other ArQule news, Director Ran Nussbaum acquired 307,692 shares of ArQule stock in a transaction that occurred on Thursday, June 27th. The stock was acquired at an average cost of $9.75 per share, for a total transaction of $2,999,997.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 13.80% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ARQL. Rhumbline Advisers lifted its holdings in shares of ArQule by 59.6% during the fourth quarter. Rhumbline Advisers now owns 139,348 shares of the biotechnology company’s stock valued at $386,000 after purchasing an additional 52,064 shares during the last quarter. SG Americas Securities LLC purchased a new stake in ArQule in the 4th quarter worth about $28,000. California Public Employees Retirement System lifted its stake in ArQule by 89.4% in the 4th quarter. California Public Employees Retirement System now owns 393,051 shares of the biotechnology company’s stock worth $1,089,000 after acquiring an additional 185,551 shares in the last quarter. New York State Common Retirement Fund lifted its stake in ArQule by 38.1% in the 4th quarter. New York State Common Retirement Fund now owns 106,300 shares of the biotechnology company’s stock worth $294,000 after acquiring an additional 29,300 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in ArQule by 26.6% in the 4th quarter. BlackRock Inc. now owns 8,618,012 shares of the biotechnology company’s stock worth $23,872,000 after acquiring an additional 1,808,657 shares in the last quarter. Institutional investors and hedge funds own 72.01% 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. The company's pipeline includes ARQ 531, an orally bioavailable, potent and reversible dual inhibitor of wild type and C481S-mutant Bruton's tyrosine kinase that is in Phase I trial for patients with B-cell malignancies refractory to other therapeutic options; and miransertib (ARQ 092), a potent and selective inhibitor of the protein kinase B (AKT), a serine/threonine kinase, which is in Phase Ib in combination with the hormonal therapy and anastrozole in patients with advanced endometrial cancer.
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