ArQule, Inc. (NASDAQ:ARQL)’s share price traded up 0% during trading on Thursday . The stock traded as high as $1.84 and last traded at $1.79. 572,462 shares traded hands during trading, an increase of 242% from the average session volume of 167,447 shares. The stock had previously closed at $1.79.
Several equities analysts have commented on the company. Needham & Company LLC raised ArQule from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. B. Riley assumed coverage on ArQule in a research report on Friday, February 2nd. They set a “buy” rating and a $3.00 price objective for the company. Zacks Investment Research lowered ArQule from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Roth Capital assumed coverage on ArQule in a research report on Thursday. They set a “buy” rating and a $5.00 price objective for the company. Finally, ValuEngine raised ArQule from a “strong sell” rating to a “sell” rating in a research report on Friday, November 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $3.17.
The company has a debt-to-equity ratio of 2.33, a quick ratio of 3.45 and a current ratio of 3.45. The firm has a market cap of $164.76, a PE ratio of -4.60 and a beta of 1.48.
A number of institutional investors have recently made changes to their positions in the business. BVF Inc. IL lifted its position in ArQule by 122.1% during the fourth quarter. BVF Inc. IL now owns 16,436,912 shares of the biotechnology company’s stock valued at $27,121,000 after buying an additional 9,036,784 shares during the period. First Eagle Investment Management LLC raised its position in shares of ArQule by 5.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 12,438,996 shares of the biotechnology company’s stock worth $13,807,000 after purchasing an additional 591,421 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of ArQule by 15.9% in the 4th quarter. Renaissance Technologies LLC now owns 2,295,703 shares of the biotechnology company’s stock worth $3,788,000 after purchasing an additional 315,203 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of ArQule in the 3rd quarter worth about $2,220,000. Finally, Deutsche Bank AG purchased a new position in shares of ArQule in the 4th quarter worth about $390,000. 53.96% of the stock is owned by institutional investors and hedge funds.
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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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