Roth Capital set a $7.00 price objective on ArQule (NASDAQ:ARQL) in a research report sent to investors on Sunday morning. The brokerage currently has a buy rating on the biotechnology company’s stock.
Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of ArQule from a buy rating to a hold rating in a research report on Tuesday, August 7th. B. Riley set a $7.00 price target on shares of ArQule and gave the stock a buy rating in a research report on Wednesday, August 8th. Zacks Investment Research upgraded shares of ArQule from a hold rating to a buy rating and set a $6.25 price target for the company in a research report on Wednesday, August 8th. Oppenheimer set a $7.00 price target on shares of ArQule and gave the stock a buy rating in a research report on Thursday, November 29th. Finally, ValuEngine downgraded shares of ArQule from a strong-buy rating to a buy rating in a research report on Thursday, October 4th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. ArQule presently has a consensus rating of Buy and a consensus target price of $6.85.
ARQL stock opened at $3.71 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 9.60 and a current ratio of 9.60. ArQule has a 52-week low of $1.27 and a 52-week high of $7.21. The stock has a market cap of $404.37 million, a PE ratio of -9.51 and a beta of 1.60.
ArQule (NASDAQ:ARQL) last released its quarterly earnings results on Wednesday, October 31st. The biotechnology company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $4.98 million for the quarter, compared to analyst estimates of $2.44 million. During the same quarter last year, the company earned ($0.09) EPS. Sell-side analysts forecast that ArQule will post -0.16 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zebra Capital Management LLC acquired a new position in shares of ArQule during the 2nd quarter worth about $115,000. State Board of Administration of Florida Retirement System acquired a new stake in ArQule in the 2nd quarter valued at about $169,000. Metropolitan Life Insurance Co. NY acquired a new stake in ArQule in the 2nd quarter valued at about $171,000. Voya Investment Management LLC acquired a new stake in ArQule in the 2nd quarter valued at about $184,000. Finally, Man Group plc acquired a new stake in ArQule in the 3rd quarter valued at about $222,000. Hedge funds and other institutional investors own 78.23% 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. 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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