ArQule (ARQL) Given a $7.00 Price Target at Roth Capital

ArQule (NASDAQ:ARQL) has been given a $7.00 target price by equities researchers at Roth Capital in a research note issued on Thursday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Roth Capital’s price target would indicate a potential upside of 80.88% from the stock’s previous close.

Several other analysts have also recently commented on the stock. ValuEngine cut shares of ArQule from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 19th. BidaskClub cut shares of ArQule from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. Zacks Investment Research cut shares of ArQule from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Finally, B. Riley set a $7.00 price target on shares of ArQule and gave the company a “buy” rating in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. ArQule presently has an average rating of “Buy” and an average target price of $6.85.

Shares of ArQule stock opened at $3.87 on Thursday. The company has a current ratio of 5.99, a quick ratio of 5.99 and a debt-to-equity ratio of 0.54. The stock has a market cap of $455.94 million, a price-to-earnings ratio of -9.92 and a beta of 1.15. ArQule has a 1-year low of $0.97 and a 1-year high of $7.21.

ArQule (NASDAQ:ARQL) last released its quarterly earnings results on Wednesday, October 31st. The biotechnology company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. During the same quarter in the prior year, the firm earned ($0.09) EPS. As a group, equities analysts anticipate that ArQule will post -0.12 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of ARQL. Jane Street Group LLC acquired a new stake in ArQule in the first quarter worth $100,000. CAPROCK Group Inc. acquired a new stake in ArQule in the second quarter worth $109,000. Zebra Capital Management LLC acquired a new stake in ArQule in the second quarter worth $115,000. State Board of Administration of Florida Retirement System acquired a new stake in ArQule in the second quarter worth $169,000. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in ArQule in the second quarter worth $171,000. Institutional investors own 65.37% of the company’s stock.

About ArQule

ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. It offers Derazantinib (ARQ 087), a multi-kinase inhibitor of the fibroblast growth factor receptor (FGFR) family that is in a registration trial in intrahepatic cholangiocarcinoma with FGFR2 fusions.

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