Equities analysts forecast that ArQule, Inc. (NASDAQ:ARQL) will report $1.90 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for ArQule’s earnings, with estimates ranging from $800,000.00 to $3.00 million. The firm is expected to announce its next quarterly earnings results on Wednesday, May 2nd.
On average, analysts expect that ArQule will report full year sales of $1.90 million for the current year. For the next financial year, analysts forecast that the firm will post sales of $3.00 million per share. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow ArQule.
ArQule (NASDAQ:ARQL) last announced its quarterly earnings results on Monday, March 5th. The biotechnology company reported ($0.09) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.09). During the same quarter in the prior year, the business posted ($0.10) EPS.
Several analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of ArQule from a “buy” rating to a “hold” rating in a research note on Wednesday, April 4th. BidaskClub lowered shares of ArQule from a “strong-buy” rating to a “buy” rating in a research note on Saturday. B. Riley set a $3.00 target price on shares of ArQule and gave the stock a “buy” rating in a research note on Thursday, February 8th. ValuEngine upgraded shares of ArQule from a “sell” rating to a “hold” rating in a research note on Thursday, March 15th. Finally, Roth Capital assumed coverage on shares of ArQule in a research note on Thursday, February 22nd. They issued a “buy” rating and a $5.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $4.08.
Shares of NASDAQ ARQL traded down $0.33 during trading on Wednesday, hitting $2.52. The stock had a trading volume of 1,512,722 shares, compared to its average volume of 608,936. ArQule has a 12 month low of $0.92 and a 12 month high of $3.35. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.98 and a quick ratio of 4.98. The firm has a market cap of $248.26, a price-to-earnings ratio of -6.46 and a beta of 0.81.
In other news, insider Value Fund L. P. Biotechnology sold 2,301,581 shares of the company’s stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $2.90, for a total value of $6,674,584.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.90% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ARQL. Northern Trust Corp grew its position in ArQule by 0.9% during the second quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 1,385 shares during the period. Point72 Asset Management L.P. bought a new position in ArQule during the third quarter valued at about $2,220,000. Virtu Financial LLC grew its position in ArQule by 343.8% during the fourth quarter. Virtu Financial LLC now owns 129,038 shares of the biotechnology company’s stock valued at $213,000 after buying an additional 99,964 shares during the period. Renaissance Technologies LLC grew its position in ArQule by 15.9% during the fourth quarter. Renaissance Technologies LLC now owns 2,295,703 shares of the biotechnology company’s stock valued at $3,788,000 after buying an additional 315,203 shares during the period. Finally, Deutsche Bank AG bought a new position in ArQule during the fourth quarter valued at about $390,000. Institutional investors own 67.08% of the company’s stock.
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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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