Shares of ArQule, Inc. (NASDAQ:ARQL) traded down 5.3% on Friday . The stock traded as low as $2.59 and last traded at $2.68. 1,615,424 shares changed hands during trading, an increase of 289% from the average session volume of 415,164 shares. The stock had previously closed at $2.83.
Several analysts have weighed in on the stock. Zacks Investment Research lowered shares of ArQule from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine upgraded shares of ArQule from a “sell” rating to a “hold” rating in a research note on Thursday, March 15th. Roth Capital assumed coverage on shares of ArQule in a research note on Thursday, February 22nd. They set a “buy” rating and a $5.00 target price for the company. B. Riley assumed coverage on shares of ArQule in a research note on Friday, February 2nd. They set a “buy” rating and a $3.00 target price for the company. Finally, Needham & Company LLC upgraded shares of ArQule from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. ArQule presently has a consensus rating of “Buy” and an average price target of $3.50.
The stock has a market cap of $250.01, a PE ratio of -6.87 and a beta of 1.43. 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 released its quarterly earnings results on Monday, March 5th. The biotechnology company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). During the same quarter in the prior year, the business posted ($0.10) EPS. equities analysts anticipate that ArQule, Inc. will post -0.32 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. BVF Inc. IL grew its position in shares of ArQule by 122.1% during the fourth quarter. BVF Inc. IL now owns 16,436,912 shares of the biotechnology company’s stock worth $27,121,000 after acquiring an additional 9,036,784 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of ArQule by 15.9% during the fourth quarter. Renaissance Technologies LLC now owns 2,295,703 shares of the biotechnology company’s stock worth $3,788,000 after acquiring an additional 315,203 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of ArQule during the third quarter worth about $2,220,000. Deutsche Bank AG bought a new position in shares of ArQule during the fourth quarter worth about $390,000. Finally, Northern Trust Corp grew its position in shares of ArQule by 0.9% during the second quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock worth $192,000 after acquiring an additional 1,385 shares during the last quarter. Institutional investors and hedge funds own 67.05% of the company’s stock.
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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