ArQule (ARQL) Upgraded at ValuEngine

ValuEngine upgraded shares of ArQule (NASDAQ:ARQL) from a buy rating to a strong-buy rating in a research note released on Thursday, March 21st, ValuEngine reports.

Other analysts have also issued research reports about the company. Zacks Investment Research upgraded ArQule from a hold rating to a buy rating and set a $4.00 target price on the stock in a research note on Thursday, February 7th. BidaskClub upgraded ArQule from a sell rating to a hold rating in a research note on Wednesday, February 27th. Oppenheimer set a $7.00 target price on ArQule and gave the stock a buy rating in a research note on Thursday, November 29th. Finally, Roth Capital set a $8.00 target price on ArQule and gave the stock a buy rating in a research note on Thursday, March 7th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $7.46.

NASDAQ:ARQL traded up $0.34 during midday trading on Thursday, hitting $5.90. 1,736,700 shares of the company traded hands, compared to its average volume of 1,231,000. ArQule has a 12-month low of $2.23 and a 12-month high of $7.21. The firm has a market capitalization of $625.14 million, a PE ratio of -36.88 and a beta of 2.21. 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 quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.08). ArQule had a negative return on equity of 30.51% and a negative net margin of 60.09%. The company had revenue of $2.94 million for the quarter, compared to analyst estimates of $1.81 million. Equities analysts forecast that ArQule will post -0.37 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. grew its position in shares of ArQule by 53.8% during the 4th quarter. Meeder Asset Management Inc. now owns 15,843 shares of the biotechnology company’s stock worth $43,000 after buying an additional 5,541 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of ArQule during the 4th quarter worth $28,000. Two Sigma Securities LLC bought a new position in shares of ArQule during the 4th quarter worth $30,000. Dimensional Fund Advisors LP bought a new position in shares of ArQule during the 4th quarter worth $32,000. Finally, Jane Street Group LLC bought a new position in shares of ArQule during the 4th quarter worth $33,000. 73.23% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: SEC Filing

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Analyst Recommendations for ArQule (NASDAQ:ARQL)

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