Brokerages forecast that ArQule, Inc. (NASDAQ:ARQL) will report earnings per share of ($0.06) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for ArQule’s earnings, with the lowest EPS estimate coming in at ($0.07) and the highest estimate coming in at ($0.05). ArQule reported earnings of ($0.11) per share during the same quarter last year, which would suggest a positive year over year growth rate of 45.5%. The business is scheduled to report its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that ArQule will report full year earnings of ($0.31) per share for the current year, with EPS estimates ranging from ($0.32) to ($0.29). For the next fiscal year, analysts anticipate 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 earnings per share averages are an average based on a survey of research analysts that that provide coverage for ArQule.
ArQule (NASDAQ:ARQL) last posted its quarterly earnings results on Monday, March 5th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.09). During the same quarter last year, the business posted ($0.10) earnings per share.
In other ArQule news, insider Value Fund L. P. Biotechnology sold 2,301,581 shares of ArQule stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $2.90, for a total transaction of $6,674,584.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 9.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC purchased a new position in ArQule during the 4th quarter worth approximately $165,000. BVF Inc. IL grew its position in ArQule by 122.1% during the 4th quarter. BVF Inc. IL now owns 16,436,912 shares of the biotechnology company’s stock worth $27,121,000 after purchasing an additional 9,036,784 shares in the last quarter. Deutsche Bank AG purchased a new position in ArQule during the 4th quarter worth approximately $390,000. Renaissance Technologies LLC grew its position in ArQule by 15.9% during the 4th quarter. Renaissance Technologies LLC now owns 2,295,703 shares of the biotechnology company’s stock worth $3,788,000 after purchasing an additional 315,203 shares in the last quarter. Finally, Virtu Financial LLC grew its position in ArQule by 343.8% during 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 in the last quarter. Hedge funds and other institutional investors own 67.08% of the company’s stock.
ArQule stock traded down $0.10 during mid-day trading on Monday, hitting $2.85. The company’s stock had a trading volume of 1,367,252 shares, compared to its average volume of 1,396,302. The company has a debt-to-equity ratio of 1.03, a quick ratio of 4.98 and a current ratio of 4.98. The firm has a market cap of $256.98, a price-to-earnings ratio of -7.31 and a beta of 0.83. ArQule has a twelve month low of $0.92 and a twelve month high of $3.35.
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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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