Roth Capital Increases ArQule (NASDAQ:ARQL) Price Target to $13.00

ArQule (NASDAQ:ARQL) had its price objective raised by Roth Capital to $13.00 in a research report report published on Friday morning, The Fly reports. The firm currently has a buy rating on the biotechnology company’s stock.

ARQL has been the subject of several other reports. Royal Bank of Canada initiated coverage on ArQule in a report on Thursday, April 11th. They issued an outperform rating and a $9.00 target price for the company. BidaskClub upgraded ArQule from a hold rating to a buy rating in a report on Friday, April 19th. Zacks Investment Research cut ArQule from a buy rating to a hold rating in a report on Tuesday, March 12th. Oppenheimer set a $8.00 target price on ArQule and gave the stock a buy rating in a report on Thursday, March 7th. Finally, ValuEngine upgraded ArQule from a buy rating to a strong-buy rating in a report on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $9.63.

Shares of ARQL stock opened at $8.20 on Friday. ArQule has a twelve month low of $2.23 and a twelve month high of $9.10. The firm has a market capitalization of $896.34 million, a price-to-earnings ratio of -51.25 and a beta of 1.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 6.45 and a quick ratio of 6.45.



ArQule (NASDAQ:ARQL) last issued its earnings results on Wednesday, May 1st. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). ArQule had a negative return on equity of 28.90% and a negative net margin of 83.15%. The firm had revenue of $1.35 million during the quarter, compared to analysts’ expectations of $1.70 million. As a group, equities analysts forecast that ArQule will post -0.37 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARQL. Baystate Wealth Management LLC bought a new position in shares of ArQule in the 1st quarter worth $25,000. SG Americas Securities LLC bought a new position in shares of ArQule in the 4th quarter worth $28,000. Two Sigma Securities LLC bought a new position in shares of ArQule in the 4th quarter worth $30,000. Dimensional Fund Advisors LP bought a new position in shares of ArQule in the 4th quarter worth $32,000. Finally, Jane Street Group LLC bought a new position in shares of ArQule in the 4th quarter worth $33,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

About ArQule

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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