ArQule (NASDAQ:ARQL) Coverage Initiated at Wolfe Research

Wolfe Research started coverage on shares of ArQule (NASDAQ:ARQL) in a research report report published on Tuesday, Briefing.com Automated Import reports. The brokerage issued an outperform rating and a $17.00 price objective on the biotechnology company’s stock.

Several other analysts have also recently commented on ARQL. ValuEngine upgraded shares of ArQule from a hold rating to a buy rating in a research note on Friday, November 1st. Oppenheimer set a $13.00 price target on shares of ArQule and gave the stock a buy rating in a research note on Thursday, July 11th. Cantor Fitzgerald initiated coverage on shares of ArQule in a research note on Thursday, October 17th. They issued an overweight rating and a $16.00 price target on the stock. Zacks Investment Research cut shares of ArQule from a buy rating to a hold rating in a research note on Thursday, October 31st. Finally, BidaskClub upgraded shares of ArQule from a hold rating to a buy rating in a research note on Saturday, October 19th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. ArQule presently has a consensus rating of Buy and a consensus target price of $13.11.

NASDAQ:ARQL traded up $0.06 during trading hours on Tuesday, reaching $7.66. The company had a trading volume of 2,803,500 shares, compared to its average volume of 2,134,255. The company has a current ratio of 8.27, a quick ratio of 8.27 and a debt-to-equity ratio of 0.08. ArQule has a 52 week low of $2.23 and a 52 week high of $12.22. The firm’s 50 day moving average price is $8.64 and its 200-day moving average price is $8.65. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -47.88 and a beta of 2.31.

ArQule (NASDAQ:ARQL) last announced its quarterly earnings results 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 company had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $1.20 million. ArQule had a negative return on equity of 33.10% and a negative net margin of 805.61%. During the same quarter in the previous year, the firm earned ($0.05) EPS. On average, analysts forecast that ArQule will post -0.37 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Eagle Asset Management Inc. bought a new stake in shares of ArQule in the 2nd quarter worth about $30,597,000. Point72 Asset Management L.P. bought a new stake in shares of ArQule in the 2nd quarter worth about $29,876,000. Carillon Tower Advisers Inc. bought a new stake in shares of ArQule in the 2nd quarter worth about $26,390,000. Emerald Advisers LLC bought a new stake in shares of ArQule in the 2nd quarter worth about $16,540,000. Finally, Marshall Wace North America L.P. bought a new stake in shares of ArQule in the 2nd quarter worth about $15,727,000. Institutional investors and hedge funds own 85.31% 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. 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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Analyst Recommendations for ArQule (NASDAQ:ARQL)

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