ArQule, Inc. (ARQL) Expected to Post Quarterly Sales of $1.70 Million

Equities analysts predict that ArQule, Inc. (NASDAQ:ARQL) will post sales of $1.70 million for the current quarter, according to Zacks. Three analysts have issued estimates for ArQule’s earnings, with the highest sales estimate coming in at $3.00 million and the lowest estimate coming in at $1.00 million. ArQule posted sales of $4.14 million during the same quarter last year, which would indicate a negative year over year growth rate of 58.9%. The business is scheduled to report its next quarterly earnings results before the market opens on Wednesday, May 1st.

On average, analysts expect that ArQule will report full year sales of $3.72 million for the current financial year, with estimates ranging from $3.00 million to $4.15 million. For the next fiscal year, analysts expect that the business will report sales of $16.20 million, with estimates ranging from $5.00 million to $23.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover ArQule.

ArQule (NASDAQ:ARQL) last announced its earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) earnings per share for the quarter, meeting the 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 the consensus estimate of $1.81 million.

Several research analysts have weighed in on the company. BidaskClub upgraded ArQule from a “hold” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada assumed coverage on ArQule in a research note on Thursday, April 11th. They issued an “outperform” rating and a $9.00 target price on the stock. Oppenheimer set a $8.00 target price on ArQule and gave the company a “buy” rating in a research note on Thursday, March 7th. Roth Capital set a $8.00 target price on ArQule and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, ValuEngine upgraded ArQule from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 7th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $7.46.

Shares of ARQL stock traded up $0.20 during midday trading on Friday, hitting $6.54. The company had a trading volume of 2,420,307 shares, compared to its average volume of 1,312,996. ArQule has a 52-week low of $2.23 and a 52-week high of $7.21. The company has a market capitalization of $713.49 million, a P/E ratio of -40.88 and a beta of 2.21. The company has a current ratio of 7.28, a quick ratio of 7.28 and a debt-to-equity ratio of 0.17.

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in ArQule by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,187,121 shares of the biotechnology company’s stock worth $3,288,000 after purchasing an additional 15,739 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in ArQule during the fourth quarter worth $32,000. Amalgamated Bank purchased a new stake in ArQule during the fourth quarter worth $40,000. Jane Street Group LLC purchased a new stake in ArQule during the fourth quarter worth $33,000. Finally, Metropolitan Life Insurance Co. NY boosted its position in ArQule by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 30,944 shares of the biotechnology company’s stock worth $86,000 after purchasing an additional 24,167 shares in the last quarter. Hedge funds and other institutional investors own 73.23% of the company’s stock.

About ArQule

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: Compound Annual Growth Rate (CAGR)

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