ArQule (NASDAQ:ARQL) Rating Lowered to Hold at BidaskClub

BidaskClub downgraded shares of ArQule (NASDAQ:ARQL) from a buy rating to a hold rating in a research report released on Thursday morning, BidAskClub reports.

ARQL has been the subject of several other research reports. Roth Capital set a $8.00 target price on ArQule and gave the stock a buy rating in a research note on Thursday, March 7th. ValuEngine lowered ArQule from a strong-buy rating to a buy rating in a report on Friday, March 15th. Royal Bank of Canada began coverage on ArQule in a report on Thursday, April 11th. They set an outperform rating and a $9.00 price target for the company. B. Riley set a $7.00 target price on ArQule and gave the stock a buy rating in a research report on Friday, March 8th. Finally, Oppenheimer set a $8.00 target price on ArQule and gave the stock a buy rating in a research report on Thursday, March 7th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $8.79.

Shares of ARQL traded up $2.39 during mid-day trading on Thursday, reaching $8.68. The company had a trading volume of 635,224 shares, compared to its average volume of 2,094,351. The company has a market capitalization of $683.19 million, a price-to-earnings ratio of -53.38 and a beta of 1.96. The company has a quick ratio of 6.45, a current ratio of 6.45 and a debt-to-equity ratio of 0.17. ArQule has a 52-week low of $2.23 and a 52-week high of $7.93.

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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Baystate Wealth Management LLC bought a new position in shares of ArQule during the first quarter worth about $25,000. SG Americas Securities LLC bought a new position in ArQule in the fourth quarter worth about $28,000. Two Sigma Securities LLC acquired a new stake in shares of ArQule in the fourth quarter valued at approximately $30,000. Dimensional Fund Advisors LP acquired a new stake in shares of ArQule in the fourth quarter valued at approximately $32,000. Finally, Jane Street Group LLC acquired a new position in shares of ArQule during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

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.

Featured Article: Technical Analysis

Analyst Recommendations for ArQule (NASDAQ:ARQL)

Receive News & Ratings for ArQule Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArQule and related companies with MarketBeat.com's FREE daily email newsletter.