ArQule, Inc. (ARQL) to Post FY2017 Earnings of ($0.44) Per Share, Leerink Swann Forecasts

ArQule, Inc. (NASDAQ:ARQL) – Research analysts at Leerink Swann raised their FY2017 earnings estimates for shares of ArQule in a research report issued on Tuesday. Leerink Swann analyst M. Schmidt now anticipates that the biotechnology company will post earnings of ($0.44) per share for the year, up from their previous forecast of ($0.45).

Separately, Zacks Investment Research lowered shares of ArQule from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th.

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Shares of ArQule (NASDAQ:ARQL) opened at 1.00 on Thursday. The company has a 50-day moving average of $1.21 and a 200-day moving average of $1.19. ArQule has a one year low of $0.92 and a one year high of $1.82. The company’s market capitalization is $71.15 million.

ArQule (NASDAQ:ARQL) last issued its quarterly earnings data on Friday, August 4th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.01. ArQule had a negative net margin of 482.44% and a negative return on equity of 135.68%. During the same period in the previous year, the firm earned ($0.07) earnings per share.

A hedge fund recently raised its stake in ArQule stock. First Eagle Investment Management LLC raised its stake in shares of ArQule, Inc. (NASDAQ:ARQL) by 8.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,847,575 shares of the biotechnology company’s stock after buying an additional 934,842 shares during the period. First Eagle Investment Management LLC owned about 16.65% of ArQule worth $14,691,000 at the end of the most recent quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

About ArQule

ArQule, Inc is a biopharmaceutical company. The Company is engaged in the research and development of therapeutics to treat cancers and rare diseases. These drugs focuses on the biological pathways implicated in a range of cancers and certain non-oncology indications. Its clinical-stage pipeline consists of over four drug candidates, all of which are in targeted patient populations.

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