ArQule, Inc. (NASDAQ:ARQL) was up 8.6% on Thursday . The stock traded as high as $4.63 and last traded at $4.41. Approximately 1,481,352 shares traded hands during trading, an increase of 17% from the average daily volume of 1,268,793 shares. The stock had previously closed at $4.06.
ARQL has been the topic of several 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 price target on the stock in a research report on Monday, July 9th. B. Riley lifted their price target on ArQule from $4.00 to $7.50 and gave the stock 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 price target on ArQule from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, June 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $6.65.
The stock has a market capitalization of $615.90 million, a P/E ratio of -11.33 and a beta of 1.15. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.99 and a quick ratio of 5.99.
ArQule (NASDAQ:ARQL) last released its quarterly earnings results on Wednesday, August 1st. The biotechnology company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $13.71 million for the quarter, compared to analyst estimates of $7.70 million. During the same period last year, the firm earned ($0.12) EPS. On average, research analysts predict that ArQule, Inc. will post -0.12 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in ARQL. Jane Street Group LLC acquired a new position in shares of ArQule in the first quarter valued at approximately $100,000. CAPROCK Group Inc. acquired a new position in shares of ArQule in the second quarter valued at approximately $109,000. Zebra Capital Management LLC acquired a new position in shares of ArQule in the second quarter valued at approximately $115,000. State Board of Administration of Florida Retirement System acquired a new position in shares of ArQule in the second quarter valued at approximately $169,000. Finally, Metropolitan Life Insurance Co. NY acquired a new position in shares of ArQule in the second quarter valued at approximately $171,000. 65.09% of the stock is currently owned by institutional investors and hedge funds.
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. 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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