ArQule, Inc. (ARQL) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS
ArQule, Inc. (NASDAQ:ARQL) posted its earnings results on Friday, August 4th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.01, Bloomberg Earnings reports. ArQule had a negative return on equity of 135.68% and a negative net margin of 482.44%. During the same quarter last year, the business posted ($0.07) EPS.
ArQule (ARQL) traded up 1.94% on Monday, hitting $1.05. The stock had a trading volume of 43,385 shares. ArQule has a 12-month low of $0.92 and a 12-month high of $1.82. The company’s 50 day moving average is $1.21 and its 200 day moving average is $1.19. The firm’s market cap is $74.70 million.
Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in shares of ArQule by 1.4% in the fourth quarter. Renaissance Technologies LLC now owns 2,017,600 shares of the biotechnology company’s stock valued at $2,542,000 after buying an additional 26,900 shares in the last quarter. Northern Trust Corp increased its stake in shares of ArQule by 0.9% in the second quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 1,385 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of ArQule by 8.6% in the second quarter. First Eagle Investment Management LLC now owns 11,847,575 shares of the biotechnology company’s stock valued at $14,691,000 after buying an additional 934,842 shares in the last quarter. 61.70% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research lowered ArQule from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th.
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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