ArQule, Inc. (NASDAQ:ARQL) – Equities research analysts at B. Riley increased their Q1 2018 earnings estimates for ArQule in a note issued to investors on Monday. B. Riley analyst G. Zavoico now anticipates that the biotechnology company will post earnings per share of ($0.05) for the quarter, up from their previous forecast of ($0.09). B. Riley has a “Buy” rating and a $3.00 price objective on the stock. B. Riley also issued estimates for ArQule’s Q2 2018 earnings at ($0.10) EPS, Q3 2018 earnings at ($0.10) EPS, Q4 2018 earnings at ($0.07) EPS, FY2018 earnings at ($0.32) EPS, FY2019 earnings at ($0.34) EPS, FY2020 earnings at ($0.32) EPS and FY2021 earnings at ($0.34) EPS.
A number of other research firms have also issued reports on ARQL. Zacks Investment Research lowered shares of ArQule from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. ValuEngine raised shares of ArQule from a “strong sell” rating to a “sell” rating in a report on Friday, November 17th. Finally, Needham & Company LLC raised shares of ArQule from a “hold” rating to a “buy” rating in a report on Thursday, December 14th.
Shares of ArQule (NASDAQ ARQL) opened at $1.63 on Wednesday. ArQule has a 1-year low of $0.92 and a 1-year high of $1.98. The company has a debt-to-equity ratio of 2.33, a quick ratio of 3.45 and a current ratio of 3.45.
Several hedge funds have recently made changes to their positions in ARQL. Northern Trust Corp boosted its position in shares of ArQule by 0.9% during the 2nd quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock valued at $192,000 after acquiring an additional 1,385 shares during the last quarter. Curbstone Financial Management Corp boosted its position in shares of ArQule by 100.0% during the 3rd quarter. Curbstone Financial Management Corp now owns 104,572 shares of the biotechnology company’s stock valued at $116,000 after acquiring an additional 52,286 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of ArQule by 5.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 12,438,996 shares of the biotechnology company’s stock valued at $13,807,000 after acquiring an additional 591,421 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of ArQule during the 3rd quarter valued at about $2,220,000. Finally, Virtu Financial LLC boosted its position in shares of ArQule by 343.8% during the 4th quarter. Virtu Financial LLC now owns 129,038 shares of the biotechnology company’s stock valued at $213,000 after acquiring an additional 99,964 shares during the last quarter. 54.86% of the stock is currently owned by hedge funds and other institutional investors.
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ArQule Company Profile
ArQule, Inc is a biopharmaceutical company. The Company is engaged in the research and development of therapeutics to treat cancers and rare diseases. These drugs focuses on the biological pathways implicated in a range of cancers and certain non-oncology indications. Its clinical-stage pipeline consists of over four drug candidates, all of which are in targeted patient populations.
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