ArQule (NASDAQ:ARQL) Hits New 1-Year High at $9.08

ArQule, Inc. (NASDAQ:ARQL)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $9.08 and last traded at $8.23, with a volume of 13806778 shares traded. The stock had previously closed at $6.29.

A number of brokerages have recently issued reports on ARQL. BidaskClub raised ArQule from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. ValuEngine raised ArQule from a “buy” rating to a “strong-buy” rating in a report on Friday, April 5th. Zacks Investment Research lowered ArQule from a “hold” rating to a “sell” rating in a research report on Tuesday, May 7th. Roth Capital restated a “buy” rating on shares of ArQule in a research report on Tuesday, May 28th. Finally, B. Riley increased their price target on ArQule from $6.75 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $8.79.

The company has a market cap of $683.19 million, a PE ratio of -54.31 and a beta of 1.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 6.45 and a quick ratio of 6.45.

ArQule (NASDAQ:ARQL) last posted its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). ArQule had a negative return on equity of 28.90% and a negative net margin of 83.15%. The business had revenue of $1.35 million for the quarter, compared to the consensus estimate of $1.70 million. As a group, equities research analysts anticipate that ArQule, Inc. will post -0.37 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of ARQL. Bank of New York Mellon Corp grew its holdings in ArQule by 32.1% during the third quarter. Bank of New York Mellon Corp now owns 316,761 shares of the biotechnology company’s stock worth $1,793,000 after purchasing an additional 77,041 shares during the period. Teachers Advisors LLC grew its holdings in ArQule by 18.5% during the third quarter. Teachers Advisors LLC now owns 197,278 shares of the biotechnology company’s stock worth $1,117,000 after purchasing an additional 30,858 shares during the period. Rhumbline Advisers grew its holdings in ArQule by 59.6% during the fourth quarter. Rhumbline Advisers now owns 139,348 shares of the biotechnology company’s stock worth $386,000 after purchasing an additional 52,064 shares during the period. SG Americas Securities LLC bought a new position in ArQule during the fourth quarter worth about $28,000. Finally, Dupont Capital Management Corp bought a new position in ArQule during the fourth quarter worth about $323,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

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About ArQule (NASDAQ:ARQL)

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.

See Also: Initial Public Offering (IPO)

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