Zacks: Brokerages Expect ArQule, Inc. (ARQL) to Post -$0.05 EPS

Equities research analysts expect that ArQule, Inc. (NASDAQ:ARQL) will post earnings per share of ($0.05) for the current quarter, Zacks reports. Four analysts have issued estimates for ArQule’s earnings. The highest EPS estimate is $0.01 and the lowest is ($0.07). ArQule posted earnings of ($0.09) per share in the same quarter last year, which suggests a positive year over year growth rate of 44.4%. The firm is expected to announce its next quarterly earnings results on Monday, March 4th.

According to Zacks, analysts expect that ArQule will report full year earnings of ($0.12) per share for the current financial year, with EPS estimates ranging from ($0.16) to ($0.05). For the next financial year, analysts forecast that the firm will post earnings of ($0.28) per share, with EPS estimates ranging from ($0.41) to ($0.10). Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for ArQule.

ArQule (NASDAQ:ARQL) last announced its earnings results on Wednesday, October 31st. The biotechnology company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of $4.98 million for the quarter, compared to analysts’ expectations of $2.44 million. During the same period in the prior year, the company earned ($0.09) earnings per share.

Several brokerages have recently commented on ARQL. BidaskClub downgraded ArQule from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 12th. Zacks Investment Research downgraded ArQule from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Roth Capital set a $7.00 target price on ArQule and gave the company a “buy” rating in a report on Friday, October 19th. B. Riley set a $7.00 target price on ArQule and gave the company a “buy” rating in a report on Wednesday, August 8th. Finally, ValuEngine downgraded ArQule from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $6.85.

Shares of NASDAQ ARQL traded up $0.06 during mid-day trading on Thursday, hitting $3.93. 2,215,551 shares of the company traded hands, compared to its average volume of 1,262,030. ArQule has a 1 year low of $0.98 and a 1 year high of $7.21. The company has a market cap of $455.94 million, a price-to-earnings ratio of -10.08 and a beta of 1.15. The company has a quick ratio of 5.99, a current ratio of 5.99 and a debt-to-equity ratio of 0.54.

Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in ArQule by 1,631.7% in the 1st quarter. Millennium Management LLC now owns 1,726,984 shares of the biotechnology company’s stock worth $4,974,000 after acquiring an additional 1,627,259 shares in the last quarter. EAM Investors LLC lifted its stake in ArQule by 81.3% in the 2nd quarter. EAM Investors LLC now owns 365,489 shares of the biotechnology company’s stock worth $2,021,000 after acquiring an additional 163,922 shares in the last quarter. Opaleye Management Inc. purchased a new stake in ArQule in the 2nd quarter worth about $2,322,000. Bank of New York Mellon Corp lifted its stake in ArQule by 405.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 239,720 shares of the biotechnology company’s stock worth $1,326,000 after acquiring an additional 192,324 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ArQule in the 2nd quarter worth about $365,000. 65.37% 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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Earnings History and Estimates for ArQule (NASDAQ:ARQL)

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