ArQule, Inc. (ARQL) Announces Earnings Results, Beats Estimates By $0.01 EPS
ArQule, Inc. (NASDAQ:ARQL) posted its quarterly earnings results on Friday. The biotechnology company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.01, Bloomberg Earnings reports. ArQule had a negative return on equity of 95.33% and a negative net margin of 482.44%. During the same period in the prior year, the firm earned ($0.07) earnings per share.
Shares of ArQule (NASDAQ ARQL) traded up 0.91% during mid-day trading on Friday, reaching $1.11. The company had a trading volume of 68,856 shares. ArQule has a 12-month low of $0.92 and a 12-month high of $1.82. The stock has a 50 day moving average price of $1.22 and a 200 day moving average price of $1.21. The firm’s market capitalization is $78.97 million.
Separately, Zacks Investment Research downgraded ArQule from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th.
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A hedge fund recently raised its stake in ArQule stock. Renaissance Technologies LLC raised its stake in shares of ArQule, Inc. (NASDAQ:ARQL) by 1.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,017,600 shares of the biotechnology company’s stock after buying an additional 26,900 shares during the period. Renaissance Technologies LLC owned about 2.84% of ArQule worth $2,542,000 at the end of the most recent reporting period. 60.55% of the stock is currently owned by hedge funds and other institutional investors.
ArQule, Inc is a biopharmaceutical company. The Company is engaged in the research and development of therapeutics to treat cancers and rare diseases. These drugs focuses on the biological pathways implicated in a range of cancers and certain non-oncology indications. Its clinical-stage pipeline consists of over four drug candidates, all of which are in targeted patient populations.
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