Bailard Inc. boosted its holdings in ArQule, Inc. (NASDAQ:ARQL) by 66.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 390,500 shares of the biotechnology company’s stock after purchasing an additional 155,500 shares during the quarter. Bailard Inc.’s holdings in ArQule were worth $2,210,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Zebra Capital Management LLC acquired a new position in ArQule in the second quarter valued at approximately $115,000. State Board of Administration of Florida Retirement System acquired a new position in ArQule in the second quarter valued at approximately $169,000. Metropolitan Life Insurance Co. NY acquired a new position in ArQule in the second quarter valued at approximately $171,000. Voya Investment Management LLC acquired a new position in ArQule in the second quarter valued at approximately $184,000. Finally, MetLife Investment Advisors LLC acquired a new position in ArQule in the second quarter valued at approximately $242,000. 78.23% of the stock is owned by hedge funds and other institutional investors.
ARQL has been the subject of several research analyst reports. BidaskClub raised ArQule from a “sell” rating to a “hold” rating in a report on Saturday, December 1st. Oppenheimer set a $7.00 price objective on ArQule and gave the company a “buy” rating in a report on Thursday, November 29th. Roth Capital set a $7.00 price objective on ArQule and gave the company a “buy” rating in a report on Sunday, December 2nd. Zacks Investment Research downgraded ArQule from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, B. Riley set a $7.00 price objective on ArQule and gave the company a “buy” rating in a report on Friday, November 2nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $6.85.
ARQL stock opened at $3.75 on Friday. The company has a market capitalization of $404.37 million, a PE ratio of -9.62 and a beta of 1.60. ArQule, Inc. has a twelve month low of $1.27 and a twelve month high of $7.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 9.60 and a quick ratio of 9.60.
ArQule (NASDAQ:ARQL) last posted its quarterly earnings data on Wednesday, October 31st. The biotechnology company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $4.98 million during the quarter, compared to analyst estimates of $2.44 million. During the same period in the previous year, the company posted ($0.09) earnings per share. On average, sell-side analysts predict that ArQule, Inc. will post -0.16 EPS for the current year.
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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. 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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