ArQule (NASDAQ:ARQL) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday, March 15th.
Other analysts have also issued research reports about the company. Needham & Company LLC raised ArQule from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th. Zacks Investment Research raised ArQule from a “hold” rating to a “buy” rating and set a $1.50 price objective on the stock in a research note on Wednesday, November 15th. Roth Capital began coverage on ArQule in a research note on Thursday, February 22nd. They issued a “buy” rating and a $5.00 price target on the stock. Finally, B. Riley set a $3.00 price target on ArQule and gave the stock a “buy” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. ArQule presently has a consensus rating of “Buy” and a consensus price target of $4.08.
Shares of ARQL traded down $0.10 during trading hours on Thursday, reaching $2.85. 1,367,252 shares of the company traded hands, compared to its average volume of 1,396,302. The company has a quick ratio of 4.98, a current ratio of 4.98 and a debt-to-equity ratio of 1.03. The firm has a market cap of $248.26, a P/E ratio of -7.31 and a beta of 0.83. ArQule has a fifty-two week low of $0.92 and a fifty-two week high of $3.35.
ArQule (NASDAQ:ARQL) last posted its quarterly earnings data on Monday, March 5th. The biotechnology company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). During the same period last year, the business posted ($0.10) EPS. equities analysts expect that ArQule will post -0.31 EPS for the current fiscal year.
In other ArQule news, insider Value Fund L. P. Biotechnology sold 2,301,581 shares of the firm’s stock in a transaction dated Wednesday, April 4th. The stock was sold at an average price of $2.90, for a total value of $6,674,584.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.00% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in shares of ArQule in the 3rd quarter worth about $2,220,000. BVF Inc. IL raised its holdings in shares of ArQule by 122.1% in the 4th quarter. BVF Inc. IL now owns 16,436,912 shares of the biotechnology company’s stock worth $27,121,000 after purchasing an additional 9,036,784 shares during the period. Virtu Financial LLC raised its holdings in shares of ArQule by 343.8% in the 4th quarter. Virtu Financial LLC now owns 129,038 shares of the biotechnology company’s stock worth $213,000 after purchasing an additional 99,964 shares during the period. Northern Trust Corp raised its holdings in shares of ArQule by 0.9% in the 2nd quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock worth $192,000 after purchasing an additional 1,385 shares during the period. Finally, Millennium Management LLC purchased a new position in shares of ArQule in the 4th quarter worth about $165,000. 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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