ArQule, Inc. (NASDAQ:ARQL)’s share price hit a new 52-week high and low during trading on Thursday . The company traded as low as $4.54 and last traded at $4.49, with a volume of 52449 shares traded. The stock had previously closed at $4.40.
A number of equities analysts have commented on ARQL shares. Leerink Swann upgraded shares of ArQule from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 5th. BidaskClub upgraded shares of ArQule from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 24th. Zacks Investment Research downgraded shares of ArQule from a “buy” rating to a “hold” rating in a research report on Wednesday, March 21st. Roth Capital upped their price objective on shares of ArQule from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Tuesday, April 17th. Finally, B. Riley set a $4.00 price objective on shares of ArQule and gave the stock a “buy” rating in a research report on Monday, March 26th. Seven investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $4.69.
The stock has a market capitalization of $378.16 million, a P/E ratio of -11.62 and a beta of 0.83. The company has a debt-to-equity ratio of 1.50, a quick ratio of 5.42 and a current ratio of 5.42.
ArQule (NASDAQ:ARQL) last announced its quarterly earnings data on Monday, May 7th. The biotechnology company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.01). The business had revenue of $4.14 million for the quarter, compared to the consensus estimate of $2.27 million. During the same period in the prior year, the firm posted ($0.11) EPS. analysts forecast that ArQule, Inc. will post -0.21 earnings per share for the current year.
In other news, insider Value Fund L. P. Biotechnology sold 2,230,373 shares of the stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $3.10, for a total value of $6,914,156.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Value Fund L. P. Biotechnology sold 2,301,581 shares of the stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $2.90, for a total transaction of $6,674,584.90. The disclosure for this sale can be found here. Insiders bought a total of 57,257 shares of company stock valued at $171,425 in the last quarter. Insiders own 7.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in ARQL. BVF Inc. IL increased 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 valued at $27,121,000 after purchasing an additional 9,036,784 shares in the last quarter. Sphera Funds Management LTD. purchased a new position in shares of ArQule in the 1st quarter valued at about $6,521,000. Millennium Management LLC increased its holdings in shares of ArQule by 1,631.7% in the 1st quarter. Millennium Management LLC now owns 1,726,984 shares of the biotechnology company’s stock valued at $4,974,000 after purchasing an additional 1,627,259 shares in the last quarter. Renaissance Technologies LLC increased its holdings 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 valued at $3,788,000 after purchasing an additional 315,203 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of ArQule in the 4th quarter valued at about $390,000. Institutional investors and hedge funds own 71.76% of the company’s stock.
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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