ArQule, Inc. (NASDAQ:ARQL)’s share price traded down 6.2% during trading on Friday . The stock traded as low as $4.80 and last traded at $4.82. 1,425,001 shares traded hands during trading, an increase of 9% from the average session volume of 1,310,473 shares. The stock had previously closed at $5.14.

Several equities research analysts have recently issued reports on ARQL shares. Oppenheimer set a $8.00 target price on shares of ArQule and gave the stock a “buy” rating in a report on Thursday, March 7th. Roth Capital set a $8.00 target price on shares of ArQule and gave the stock a “buy” rating in a report on Thursday, March 7th. ValuEngine upgraded shares of ArQule from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 7th. BidaskClub upgraded shares of ArQule from a “sell” rating to a “hold” rating in a report on Friday. Finally, Zacks Investment Research lowered shares of ArQule from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $7.15.

The firm has a market capitalization of $525.40 million, a PE ratio of -30.13 and a beta of 2.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 7.28 and a current ratio of 7.28.

ArQule (NASDAQ:ARQL) last released its earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.08). The firm had revenue of $2.94 million during the quarter, compared to analyst estimates of $1.81 million. ArQule had a negative net margin of 60.09% and a negative return on equity of 30.51%. As a group, equities analysts forecast that ArQule, Inc. will post -0.37 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the stock. Bailard Inc. increased its stake in ArQule by 66.2% in the 3rd quarter. Bailard Inc. now owns 390,500 shares of the biotechnology company’s stock worth $2,210,000 after buying an additional 155,500 shares during the period. BlueMountain Capital Management LLC purchased a new position in ArQule during the 3rd quarter valued at about $606,000. First Eagle Investment Management LLC increased its position in ArQule by 6.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 16,081,128 shares of the biotechnology company’s stock valued at $91,019,000 after purchasing an additional 1,000,000 shares during the period. TIAA CREF Investment Management LLC increased its position in ArQule by 93.0% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 680,133 shares of the biotechnology company’s stock valued at $3,850,000 after purchasing an additional 327,745 shares during the period. Finally, Sphera Funds Management LTD. increased its position in ArQule by 33.9% during the 3rd quarter. Sphera Funds Management LTD. now owns 2,005,243 shares of the biotechnology company’s stock valued at $11,350,000 after purchasing an additional 507,560 shares during the period. 73.29% of the stock is currently owned by institutional investors.

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ArQule Company Profile (NASDAQ:ARQL)

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.

See Also: Gross Domestic Product (GDP)

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