Equities research analysts expect that ArQule, Inc. (NASDAQ:ARQL) will post sales of $1.56 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for ArQule’s earnings. The highest sales estimate is $3.00 million and the lowest is $200,000.00. ArQule reported sales of $2.94 million in the same quarter last year, which indicates a negative year-over-year growth rate of 46.9%. The company is scheduled to issue its next quarterly earnings results on Thursday, March 5th.
According to Zacks, analysts expect that ArQule will report full-year sales of $3.37 million for the current year, with estimates ranging from $2.00 million to $4.80 million. For the next year, analysts forecast that the business will report sales of $10.00 million, with estimates ranging from $3.70 million to $23.60 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow ArQule.
ArQule (NASDAQ:ARQL) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The firm had revenue of $0.21 million for the quarter, compared to the consensus estimate of $1.20 million. ArQule had a negative net margin of 805.61% and a negative return on equity of 33.10%. During the same quarter last year, the company posted ($0.05) earnings per share.
Several equities analysts have recently commented on ARQL shares. Wolfe Research started coverage on ArQule in a research report on Tuesday, November 5th. They set an “outperform” rating and a $17.00 price objective on the stock. ValuEngine lowered ArQule from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Cantor Fitzgerald lowered ArQule from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $16.00 to $20.00 in a research report on Tuesday, December 10th. Needham & Company LLC lowered ArQule from a “buy” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Zacks Investment Research lowered ArQule from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $16.78.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Voya Investment Management LLC grew its position in ArQule by 2.6% during the 3rd quarter. Voya Investment Management LLC now owns 43,598 shares of the biotechnology company’s stock worth $313,000 after acquiring an additional 1,125 shares during the last quarter. Metropolitan Life Insurance Co NY grew its position in ArQule by 4.7% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 32,403 shares of the biotechnology company’s stock worth $155,000 after acquiring an additional 1,459 shares during the last quarter. JPMorgan Chase & Co. grew its position in ArQule by 5.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 28,009 shares of the biotechnology company’s stock worth $303,000 after acquiring an additional 1,554 shares during the last quarter. Victory Capital Management Inc. bought a new position in ArQule during the 2nd quarter worth approximately $26,000. Finally, LPL Financial LLC grew its position in ArQule by 51.3% during the 2nd quarter. LPL Financial LLC now owns 17,064 shares of the biotechnology company’s stock worth $188,000 after acquiring an additional 5,784 shares during the last quarter. Institutional investors and hedge funds own 74.63% of the company’s stock.
Shares of ArQule stock remained flat at $$20.00 during trading on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.27 and a quick ratio of 8.27. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -125.00 and a beta of 2.49. The company’s 50-day moving average is $17.93 and its 200-day moving average is $11.36. ArQule has a 52-week low of $3.15 and a 52-week high of $20.45.
ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. The company's pipeline includes ARQ 531, an orally bioavailable, potent and reversible dual inhibitor of wild type and C481S-mutant Bruton's tyrosine kinase that is in Phase I trial for patients with B-cell malignancies refractory to other therapeutic options; and miransertib (ARQ 092), a potent and selective inhibitor of the protein kinase B (AKT), a serine/threonine kinase, which is in Phase Ib in combination with the hormonal therapy and anastrozole in patients with advanced endometrial cancer.
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