Victory Capital Management Inc. purchased a new position in ArQule, Inc. (NASDAQ:ARQL) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,402 shares of the biotechnology company’s stock, valued at approximately $26,000.
A number of other institutional investors have also recently modified their holdings of ARQL. Eagle Asset Management Inc. purchased a new position in ArQule in the second quarter worth approximately $30,597,000. Point72 Asset Management L.P. purchased a new stake in shares of ArQule during the 2nd quarter worth approximately $29,876,000. Carillon Tower Advisers Inc. purchased a new stake in shares of ArQule during the 2nd quarter worth approximately $26,390,000. Emerald Advisers LLC purchased a new stake in shares of ArQule during the 2nd quarter worth approximately $16,540,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of ArQule during the 2nd quarter worth approximately $15,727,000. Institutional investors own 85.27% of the company’s stock.
Several analysts have recently weighed in on ARQL shares. ValuEngine downgraded shares of ArQule from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Oppenheimer set a $13.00 price objective on shares of ArQule and gave the stock a “buy” rating in a research report on Thursday, July 11th. Royal Bank of Canada set a $12.00 price objective on shares of ArQule and gave the stock a “buy” rating in a research report on Wednesday. BidaskClub upgraded shares of ArQule from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, HC Wainwright started coverage on shares of ArQule in a research report on Monday, September 16th. They set a “buy” rating and a $13.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $12.29.
Shares of ArQule stock opened at $8.58 on Friday. The firm’s fifty day simple moving average is $8.37 and its 200-day simple moving average is $8.11. The stock has a market capitalization of $987.34 million, a price-to-earnings ratio of -53.63 and a beta of 2.24. ArQule, Inc. has a 12 month low of $2.23 and a 12 month high of $12.22. The company has a debt-to-equity ratio of 0.07, a current ratio of 12.54 and a quick ratio of 12.54.
ArQule (NASDAQ:ARQL) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $1.43 million. ArQule had a negative net margin of 349.34% and a negative return on equity of 33.45%. During the same period in the previous year, the company posted $0.05 EPS. Analysts anticipate that ArQule, Inc. will post -0.36 earnings per share for the current year.
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.
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