ArQule, Inc. (NASDAQ:ARQL) traded up 6.1% on Monday . The stock traded as high as $5.93 and last traded at $5.90. 1,736,783 shares traded hands during mid-day trading, an increase of 41% from the average session volume of 1,231,001 shares. The stock had previously closed at $5.56.
Several equities research analysts have weighed in on the stock. Roth Capital set a $8.00 target price on shares of ArQule and gave the company a “buy” rating in a research note on Thursday, March 7th. BidaskClub cut shares of ArQule from a “hold” rating to a “sell” rating in a report on Friday, February 15th. ValuEngine raised shares of ArQule from a “hold” rating to a “buy” rating in a report on Thursday, December 27th. Oppenheimer set a $8.00 price target on shares of ArQule and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, Zacks Investment Research cut shares of ArQule from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. ArQule presently has an average rating of “Buy” and an average target price of $7.46.
The firm has a market capitalization of $725.52 million, a PE ratio of -41.56 and a beta of 2.21. The company has a current ratio of 7.28, a quick ratio of 7.28 and a debt-to-equity ratio of 0.17.
ArQule (NASDAQ:ARQL) last issued its earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.08). ArQule had a negative net margin of 60.09% and a negative return on equity of 30.51%. The firm had revenue of $2.94 million during the quarter, compared to analysts’ expectations of $1.81 million. Analysts predict that ArQule, Inc. will post -0.37 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in shares of ArQule during the fourth quarter worth $28,000. Two Sigma Securities LLC purchased a new position in shares of ArQule during the fourth quarter worth $30,000. Dimensional Fund Advisors LP purchased a new position in shares of ArQule during the fourth quarter worth $32,000. Jane Street Group LLC purchased a new position in shares of ArQule during the fourth quarter worth $33,000. Finally, Amalgamated Bank purchased a new position in shares of ArQule during the fourth quarter worth $40,000. 73.23% of the stock is owned by hedge funds and other institutional investors.
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ArQule Company Profile (NASDAQ:ARQL)
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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