Stock Traders Purchase Large Volume of ArQule Call Options (NASDAQ:ARQL)

ArQule, Inc. (NASDAQ:ARQL) was the target of unusually large options trading on Monday. Stock investors purchased 31,364 call options on the company. This represents an increase of 879% compared to the typical daily volume of 3,203 call options.

NASDAQ ARQL opened at $19.71 on Tuesday. ArQule has a twelve month low of $2.23 and a twelve month high of $19.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.27 and a current ratio of 8.27. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -123.16 and a beta of 2.24. The firm’s 50 day moving average price is $9.19 and its two-hundred day moving average price is $9.05.

ArQule (NASDAQ:ARQL) last released its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). The business had revenue of $0.21 million during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned ($0.05) EPS. On average, research analysts forecast that ArQule will post -0.37 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its stake in ArQule by 5.7% in the 2nd quarter. BlackRock Inc. now owns 8,978,971 shares of the biotechnology company’s stock worth $98,856,000 after acquiring an additional 480,873 shares in the last quarter. State Street Corp grew its stake in ArQule by 63.7% during the 3rd quarter. State Street Corp now owns 6,203,608 shares of the biotechnology company’s stock valued at $44,480,000 after acquiring an additional 2,414,745 shares in the last quarter. Vanguard Group Inc. grew its stake in ArQule by 5.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,635,858 shares of the biotechnology company’s stock valued at $62,051,000 after acquiring an additional 314,378 shares in the last quarter. Orbimed Advisors LLC grew its stake in ArQule by 270.1% during the 3rd quarter. Orbimed Advisors LLC now owns 3,701,273 shares of the biotechnology company’s stock valued at $26,538,000 after acquiring an additional 2,701,273 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in shares of ArQule by 25.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 3,488,358 shares of the biotechnology company’s stock valued at $25,011,000 after purchasing an additional 709,259 shares during the period. Institutional investors and hedge funds own 74.72% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Wolfe Research initiated coverage on ArQule in a research report on Tuesday, November 5th. They set an “outperform” rating and a $17.00 target price on the stock. B. Riley started coverage on ArQule in a research report on Wednesday, November 27th. They issued a “buy” rating and a $14.00 price target for the company. HC Wainwright lowered ArQule from a “buy” rating to a “neutral” rating and increased their price target for the company from $13.00 to $20.00 in a research report on Tuesday. Needham & Company LLC cut ArQule from a “buy” rating to a “hold” rating in a research note on Monday. Finally, BidaskClub upgraded ArQule from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Six 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’s stock. The company has an average rating of “Buy” and an average price target of $15.56.

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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