Oppenheimer set a $13.00 target price on ArQule (NASDAQ:ARQL) in a report issued on Thursday morning, Stock Target Advisor reports. The firm currently has a buy rating on the biotechnology company’s stock. Oppenheimer also issued estimates for ArQule’s FY2023 earnings at $1.22 EPS.
Other analysts have also recently issued research reports about the stock. Roth Capital set a $12.00 price target on shares of Callon Petroleum and gave the company a buy rating in a research note on Friday, June 14th. BidaskClub upgraded shares of Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th. Royal Bank of Canada cut their price target on shares of from GBX 845 ($11.04) to GBX 800 ($10.45) and set an outperform rating for the company in a research note on Wednesday, June 19th. ValuEngine upgraded shares of Whiting Petroleum from a strong sell rating to a sell rating in a research note on Friday, April 5th. Finally, Leerink Swann set a $27.00 target price on shares of Kura Oncology and gave the stock a buy rating in a research note on Saturday, June 15th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $11.13.
Shares of ARQL stock opened at $11.05 on Thursday. 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 company has a fifty day moving average price of $9.02. ArQule has a one year low of $2.23 and a one year high of $12.22.
ArQule (NASDAQ:ARQL) last announced its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $1.35 million during the quarter, compared to analyst estimates of $1.70 million. ArQule had a negative net margin of 83.15% and a negative return on equity of 28.90%. As a group, equities research analysts predict that ArQule will post -0.37 earnings per share for the current fiscal year.
In related news, Director Ran Nussbaum bought 307,692 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was bought at an average price of $9.75 per share, for a total transaction of $2,999,997.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Baystate Wealth Management LLC acquired a new stake in shares of ArQule during the 1st quarter worth about $25,000. Quantamental Technologies LLC lifted its stake in shares of ArQule by 221.0% during the 1st quarter. Quantamental Technologies LLC now owns 7,383 shares of the biotechnology company’s stock worth $35,000 after buying an additional 5,083 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of ArQule during the 4th quarter worth about $28,000. Two Sigma Securities LLC bought a new position in ArQule during the fourth quarter worth about $30,000. Finally, Dimensional Fund Advisors LP bought a new position in ArQule during the fourth quarter worth about $32,000. Institutional investors own 72.03% 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.
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.