BidaskClub downgraded shares of ArQule (NASDAQ:ARQL) from a strong-buy rating to a buy rating in a research report released on Saturday morning.
Several other equities analysts have also weighed in on the company. Needham & Company LLC upgraded ArQule from a hold rating to a buy rating in a research note on Thursday, December 14th. Leerink Swann upgraded ArQule from a market perform rating to an outperform rating in a research note on Thursday. Zacks Investment Research lowered ArQule from a buy rating to a hold rating in a research note on Wednesday, March 21st. Roth Capital initiated coverage on ArQule in a research note on Thursday, February 22nd. They issued a buy rating and a $5.00 price target for the company. Finally, B. Riley initiated coverage on ArQule in a research note on Friday, February 2nd. They issued a buy rating and a $3.00 price target for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $4.08.
Shares of ArQule stock opened at $2.85 on Friday. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 1.03. ArQule has a twelve month low of $0.92 and a twelve month high of $3.35.
ArQule (NASDAQ:ARQL) last announced its quarterly earnings results on Monday, March 5th. The biotechnology company reported ($0.09) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09). During the same period in the previous year, the business posted ($0.10) earnings per share. research analysts predict that ArQule will post -0.31 EPS for the current year.
In other ArQule news, insider Value Fund L. P. Biotechnology sold 2,301,581 shares of the business’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $2.90, for a total transaction of $6,674,584.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.00% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of ARQL. Millennium Management LLC purchased a new stake in ArQule during the 4th quarter worth approximately $165,000. Northern Trust Corp increased its stake in ArQule by 0.9% during the 2nd quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock worth $192,000 after buying an additional 1,385 shares in the last quarter. Virtu Financial LLC increased its stake in ArQule by 343.8% during the 4th quarter. Virtu Financial LLC now owns 129,038 shares of the biotechnology company’s stock worth $213,000 after buying an additional 99,964 shares in the last quarter. Deutsche Bank AG purchased a new stake in ArQule during the 4th quarter worth approximately $390,000. Finally, Point72 Asset Management L.P. purchased a new stake in ArQule during the 3rd quarter worth approximately $2,220,000. Institutional investors own 67.08% of the company’s stock.
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ArQule Company Profile
ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. Its lead product candidate is tivantinib (ARQ 197), a small molecule inhibitor of the c-Met receptor tyrosine kinase and its biological pathway, which is in Phase III clinical trial for the treatment of liver cancer.
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