-$0.06 Earnings Per Share Expected for ArQule, Inc. (NASDAQ:ARQL) This Quarter

Equities analysts forecast that ArQule, Inc. (NASDAQ:ARQL) will announce earnings per share of ($0.06) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for ArQule’s earnings. The highest EPS estimate is ($0.05) and the lowest is ($0.07). ArQule posted earnings of ($0.11) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 45.5%. The business is expected to announce its next quarterly earnings report on Wednesday, May 2nd.

On average, analysts expect that ArQule will report full year earnings of ($0.32) per share for the current fiscal year. For the next fiscal year, analysts forecast that the firm will post earnings of ($0.35) per share, with EPS estimates ranging from ($0.35) to ($0.34). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for ArQule.

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ArQule (NASDAQ:ARQL) last released its earnings results on Monday, March 5th. The biotechnology company reported ($0.09) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09). During the same quarter last year, the firm posted ($0.10) EPS.

ARQL has been the topic of several research analyst reports. B. Riley initiated coverage on shares of ArQule in a research note on Friday, February 2nd. They set a “buy” rating and a $3.00 target price on the stock. Zacks Investment Research raised shares of ArQule from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research note on Tuesday. ValuEngine raised shares of ArQule from a “sell” rating to a “hold” rating in a research note on Thursday, March 15th. Needham & Company LLC raised shares of ArQule from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th. Finally, Roth Capital started coverage on shares of ArQule in a research note on Thursday, February 22nd. They issued a “buy” rating and a $5.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $3.50.

ArQule stock traded up $0.44 during trading on Friday, reaching $2.87. 2,456,886 shares of the company’s stock traded hands, compared to its average volume of 371,308. The firm has a market cap of $202.10, a PE ratio of -7.36 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, a quick ratio of 4.98 and a current ratio of 4.98. ArQule has a 52-week low of $0.92 and a 52-week high of $2.94.

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC acquired a new position in shares of ArQule in the 4th quarter worth approximately $165,000. Virtu Financial LLC grew its stake in shares of ArQule by 343.8% in the 4th quarter. Virtu Financial LLC now owns 129,038 shares of the biotechnology company’s stock worth $213,000 after purchasing an additional 99,964 shares during the last quarter. Northern Trust Corp grew its stake in shares of ArQule by 0.9% in the 2nd quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock worth $192,000 after purchasing an additional 1,385 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of ArQule in the 4th quarter worth approximately $390,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of ArQule in the 3rd quarter worth approximately $2,220,000. 67.05% of the stock is currently owned by institutional investors.

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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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