Wall Street brokerages forecast that ArQule, Inc. (NASDAQ:ARQL) will post earnings per share (EPS) of ($0.06) for the current quarter, Zacks reports. Four analysts have provided estimates for ArQule’s earnings, with estimates ranging from ($0.10) to ($0.04). ArQule reported earnings per share of ($0.09) during the same quarter last year, which would indicate a positive year over year growth rate of 33.3%. The firm is scheduled to report its next quarterly earnings results on Thursday, November 8th.
According to Zacks, analysts expect that ArQule will report full year earnings of ($0.12) per share for the current financial year, with EPS estimates ranging from ($0.16) to ($0.05). For the next financial year, analysts forecast that the company will report earnings of ($0.28) per share, with EPS estimates ranging from ($0.41) to ($0.10). Zacks’ EPS averages are an average based on a survey of research analysts that cover ArQule.
ArQule (NASDAQ:ARQL) last issued its earnings results on Wednesday, August 1st. The biotechnology company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. The firm had revenue of $13.71 million for the quarter, compared to the consensus estimate of $7.70 million. During the same period last year, the firm earned ($0.12) earnings per share.
ARQL has been the subject of a number of research analyst reports. ValuEngine lowered ArQule from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 19th. Zacks Investment Research raised ArQule from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research report on Monday, July 9th. B. Riley lifted their target price on ArQule from $4.00 to $7.50 and gave the company a “buy” rating in a research report on Friday, June 29th. BidaskClub lowered ArQule from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Finally, Needham & Company LLC lifted their target price on ArQule from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Monday, June 18th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $6.65.
NASDAQ ARQL traded down $0.14 on Monday, reaching $4.08. 1,009,700 shares of the stock traded hands, compared to its average volume of 1,267,531. The company has a quick ratio of 5.99, a current ratio of 5.99 and a debt-to-equity ratio of 0.54. The firm has a market cap of $615.90 million, a PE ratio of -10.46 and a beta of 1.15. ArQule has a 12 month low of $0.97 and a 12 month high of $7.21.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new position in shares of ArQule in the 1st quarter worth $100,000. CAPROCK Group Inc. bought a new position in shares of ArQule in the 2nd quarter worth $109,000. Zebra Capital Management LLC bought a new position in shares of ArQule in the 2nd quarter worth $115,000. State Board of Administration of Florida Retirement System bought a new position in shares of ArQule in the 2nd quarter worth $169,000. Finally, Metropolitan Life Insurance Co. NY bought a new position in shares of ArQule in the 2nd quarter worth $171,000. 65.09% of the stock is owned by hedge funds and other institutional investors.
ArQule Company Profile
ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. It offers Derazantinib (ARQ 087), a multi-kinase inhibitor of the fibroblast growth factor receptor (FGFR) family that is in a registration trial in intrahepatic cholangiocarcinoma with FGFR2 fusions.
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