ArQule, Inc. (NASDAQ:ARQL) Receives $13.75 Average Price Target from Analysts

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ArQule, Inc. (NASDAQ:ARQL) has earned an average recommendation of “Hold” from the twelve analysts that are covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $17.50.

A number of research firms have recently commented on ARQL. Royal Bank of Canada cut ArQule from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $12.00 to $20.00 in a research report on Tuesday. ValuEngine cut ArQule from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Roth Capital restated a “neutral” rating and set a $18.00 target price (down from $20.00) on shares of ArQule in a research report on Tuesday. HC Wainwright cut ArQule from a “buy” rating to a “neutral” rating and raised their target price for the company from $13.00 to $20.00 in a research report on Tuesday. Finally, BidaskClub upgraded ArQule from a “buy” rating to a “strong-buy” rating in a research report on Tuesday.

ARQL traded up $0.08 during midday trading on Monday, hitting $20.07. 5,322,317 shares of the company were exchanged, compared to its average volume of 7,065,326. The company’s 50 day simple moving average is $10.05 and its 200 day simple moving average is $9.30. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -125.41 and a beta of 2.23. The company has a current ratio of 8.27, a quick ratio of 8.27 and a debt-to-equity ratio of 0.08. ArQule has a 1-year low of $2.23 and a 1-year high of $20.45.

ArQule (NASDAQ:ARQL) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). ArQule had a negative net margin of 805.61% and a negative return on equity of 33.10%. The business had revenue of $0.21 million for the quarter, compared to analyst estimates of $1.20 million. During the same quarter last year, the business earned ($0.05) earnings per share. On average, equities analysts anticipate that ArQule will post -0.37 EPS for the current year.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in ArQule by 5.7% in the 2nd quarter. BlackRock Inc. now owns 8,978,971 shares of the biotechnology company’s stock valued at $98,856,000 after buying an additional 480,873 shares in the last quarter. State Street Corp lifted its stake in ArQule by 63.7% in the 3rd quarter. State Street Corp now owns 6,203,608 shares of the biotechnology company’s stock valued at $44,480,000 after buying an additional 2,414,745 shares in the last quarter. Vanguard Group Inc. lifted its stake in ArQule by 5.9% in the 2nd quarter. Vanguard Group Inc. now owns 5,635,858 shares of the biotechnology company’s stock valued at $62,051,000 after buying an additional 314,378 shares in the last quarter. Orbimed Advisors LLC lifted its stake in ArQule by 270.1% in the 3rd quarter. Orbimed Advisors LLC now owns 3,701,273 shares of the biotechnology company’s stock valued at $26,538,000 after buying an additional 2,701,273 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in ArQule by 25.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 3,488,358 shares of the biotechnology company’s stock valued at $25,011,000 after buying an additional 709,259 shares in the last quarter. 74.72% of the stock is currently owned by hedge funds and other institutional investors.

ArQule Company Profile

ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. The company's pipeline includes ARQ 531, an orally bioavailable, potent and reversible dual inhibitor of wild type and C481S-mutant Bruton's tyrosine kinase that is in Phase I trial for patients with B-cell malignancies refractory to other therapeutic options; and miransertib (ARQ 092), a potent and selective inhibitor of the protein kinase B (AKT), a serine/threonine kinase, which is in Phase Ib in combination with the hormonal therapy and anastrozole in patients with advanced endometrial cancer.

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Analyst Recommendations for ArQule (NASDAQ:ARQL)

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