ValuEngine upgraded shares of ArQule (NASDAQ:ARQL) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday.
A number of other research firms have also issued reports on ARQL. Zacks Investment Research upgraded shares of ArQule from a hold rating to a buy rating and set a $2.75 target price on the stock in a research note on Tuesday, May 8th. B. Riley set a $4.00 target price on shares of ArQule and gave the company a buy rating in a research note on Monday, March 26th. Needham & Company LLC raised their target price on shares of ArQule from $6.00 to $7.00 and gave the company a buy rating in a research note on Monday, June 18th. Roth Capital raised their target price on shares of ArQule from $5.00 to $6.00 and gave the company a buy rating in a research note on Tuesday, April 17th. Finally, BidaskClub upgraded shares of ArQule from a hold rating to a buy rating in a research note on Saturday, May 19th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $5.35.
ArQule opened at $5.37 on Tuesday, Marketbeat.com reports. ArQule has a 1 year low of $0.94 and a 1 year high of $6.07. The company has a current ratio of 5.42, a quick ratio of 5.42 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $454.56 million, a P/E ratio of -13.77 and a beta of 1.10.
ArQule (NASDAQ:ARQL) last posted its earnings results on Monday, May 7th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The company had revenue of $4.14 million for the quarter, compared to analyst estimates of $2.27 million. During the same quarter in the previous year, the firm earned ($0.11) EPS. research analysts forecast that ArQule will post -0.24 EPS for the current year.
In other ArQule news, insider Value Fund L. P. Biotechnology sold 2,230,373 shares of the stock in a transaction on 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 can be accessed through the SEC website. Also, CEO Paolo Pucci purchased 15,000 shares of ArQule stock in a transaction on Friday, May 18th. The stock was bought at an average cost of $3.39 per share, with a total value of $50,850.00. Following the completion of the acquisition, the chief executive officer now owns 420,494 shares in the company, valued at $1,425,474.66. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 57,257 shares of company stock valued at $171,425 and sold 5,567,893 shares valued at $18,768,436. 7.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of ARQL. Jane Street Group LLC bought a new stake in ArQule in the 1st quarter valued at $100,000. Millennium Management LLC bought a new stake in ArQule in the 4th quarter valued at $165,000. Virtu Financial LLC lifted its holdings in shares of 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 acquiring an additional 99,964 shares during the period. Element Capital Management LLC bought a new position in shares of ArQule during the 1st quarter worth about $225,000. Finally, Deutsche Bank AG bought a new position in shares of ArQule during the 4th quarter worth about $390,000. 65.48% of the stock is owned by hedge funds and other institutional investors.
ArQule Company Profile
ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. It offers Derazantinib (ARQ 087), a multi-kinase inhibitor of the fibroblast growth factor receptor (FGFR) family that is in a registration trial in intrahepatic cholangiocarcinoma with FGFR2 fusions.
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