ArQule, Inc. (ARQL) Given Consensus Rating of “Buy” by Analysts

Shares of ArQule, Inc. (NASDAQ:ARQL) have been given an average rating of “Buy” by the seven analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $4.33.

ARQL has been the subject of several recent research reports. BidaskClub raised ArQule from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 24th. Leerink Swann raised ArQule from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 5th. Zacks Investment Research cut ArQule from a “buy” rating to a “hold” rating in a research report on Wednesday, March 21st. B. Riley set a $4.00 price objective on ArQule and gave the stock a “buy” rating in a research report on Monday, March 26th. Finally, ValuEngine raised ArQule from a “sell” rating to a “hold” rating in a research report on Thursday, March 15th.

In related news, insider Value Fund L. P. Biotechnology sold 2,230,373 shares of the stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $3.10, for a total transaction of $6,914,156.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Value Fund L. P. Biotechnology sold 2,301,581 shares of the stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $2.90, for a total value of $6,674,584.90. The disclosure for this sale can be found here. 7.90% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC acquired a new position in ArQule during the fourth quarter valued at approximately $165,000. Virtu Financial LLC boosted its position in ArQule by 343.8% during the fourth quarter. Virtu Financial LLC now owns 129,038 shares of the biotechnology company’s stock valued at $213,000 after purchasing an additional 99,964 shares during the last quarter. Northern Trust Corp boosted its position in ArQule by 0.9% during the second quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock valued at $192,000 after purchasing an additional 1,385 shares during the last quarter. Deutsche Bank AG acquired a new position in ArQule during the fourth quarter valued at approximately $390,000. Finally, Point72 Asset Management L.P. acquired a new position in ArQule during the third quarter valued at approximately $2,220,000. 67.17% of the stock is owned by hedge funds and other institutional investors.

Shares of ArQule stock traded down $0.17 during trading hours on Wednesday, hitting $2.70. The company’s stock had a trading volume of 939,778 shares, compared to its average volume of 737,753. ArQule has a 12 month low of $0.92 and a 12 month high of $3.35. The company has a market capitalization of $250.01, a P/E ratio of -6.92 and a beta of 0.81. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.98 and a quick ratio of 4.98.

ArQule (NASDAQ:ARQL) last announced its quarterly earnings results on Monday, March 5th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). During the same period in the prior year, the company earned ($0.10) earnings per share. equities analysts anticipate that ArQule will post -0.24 EPS for the current fiscal year.

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About ArQule

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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