Leerink Swann upgraded shares of ArQule (NASDAQ:ARQL) from a market perform rating to an outperform rating in a research note released on Thursday, Marketbeat.com reports.
Several other analysts have also issued reports on the stock. Needham & Company LLC upgraded shares of ArQule from a hold rating to a buy rating in a research report on Thursday, December 14th. Zacks Investment Research lowered shares of ArQule from a buy rating to a hold rating in a research report on Wednesday, March 21st. Roth Capital initiated coverage on shares of ArQule in a research report on Thursday, February 22nd. They issued a buy rating and a $5.00 target price on the stock. B. Riley initiated coverage on shares of ArQule in a research report on Friday, February 2nd. They issued a buy rating and a $3.00 target price on the stock. Finally, ValuEngine upgraded shares of ArQule from a sell rating to a hold rating in a research report on Thursday, March 15th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $4.08.
Shares of NASDAQ ARQL traded down $0.08 during trading hours on Thursday, hitting $2.87. 1,177,721 shares of the stock were exchanged, compared to its average volume of 591,928. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $256.10, a price-to-earnings ratio of -7.56 and a beta of 0.83. ArQule has a 1-year low of $0.92 and a 1-year high of $3.35.
A number of institutional investors have recently modified their holdings of ARQL. Millennium Management LLC acquired a new stake in ArQule in the fourth quarter valued at approximately $165,000. Northern Trust Corp boosted its position in ArQule by 0.9% in the second quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 1,385 shares in the last quarter. Virtu Financial LLC boosted its position in ArQule by 343.8% in the fourth quarter. Virtu Financial LLC now owns 129,038 shares of the biotechnology company’s stock valued at $213,000 after buying an additional 99,964 shares in the last quarter. Deutsche Bank AG acquired a new stake in ArQule in the fourth quarter valued at approximately $390,000. Finally, Point72 Asset Management L.P. acquired a new stake in ArQule in the third quarter valued at approximately $2,220,000. Hedge funds and other institutional investors own 67.08% of the company’s stock.
ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. Its lead product candidate is tivantinib (ARQ 197), a small molecule inhibitor of the c-Met receptor tyrosine kinase and its biological pathway, which is in Phase III clinical trial for the treatment of liver cancer.
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