ArQule, Inc. (NASDAQ:ARQL) – Analysts at B. Riley decreased their Q3 2018 earnings estimates for ArQule in a research note issued on Wednesday, August 8th. B. Riley analyst G. Zavoico now anticipates that the biotechnology company will post earnings per share of ($0.05) for the quarter, down from their prior forecast of ($0.03). B. Riley has a “Buy” rating and a $7.00 price objective on the stock. B. Riley also issued estimates for ArQule’s FY2018 earnings at ($0.05) EPS, Q1 2019 earnings at ($0.05) EPS, Q2 2019 earnings at ($0.05) EPS, Q3 2019 earnings at ($0.05) EPS, Q4 2019 earnings at $0.04 EPS and FY2019 earnings at ($0.10) EPS.

Several other research analysts also recently weighed in on the company. ValuEngine upgraded ArQule from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 26th. Roth Capital upped their price target on ArQule from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Tuesday, April 17th. Zacks Investment Research upgraded ArQule from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research note on Monday, April 16th. BidaskClub upgraded ArQule from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 25th. Finally, Needham & Company LLC upped their price target on ArQule from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, June 18th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $6.65.

ARQL stock opened at $5.68 on Monday. ArQule has a 1-year low of $0.94 and a 1-year high of $7.21. The company has a quick ratio of 5.99, a current ratio of 5.99 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $594.14 million, a price-to-earnings ratio of -14.92 and a beta of 0.85.

ArQule (NASDAQ:ARQL) last posted its quarterly earnings results on Wednesday, August 1st. The biotechnology company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The business had revenue of $13.71 million during the quarter, compared to the consensus estimate of $7.70 million. During the same quarter in the previous year, the company earned ($0.12) earnings per share.

In other news, insider Value Fund L. P. Biotechnology sold 1,035,939 shares of the company’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $5.00, for a total transaction of $5,179,695.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Paolo Pucci acquired 15,000 shares of the firm’s stock in a transaction dated Friday, May 18th. The shares were purchased at an average cost of $3.39 per share, for a total transaction of $50,850.00. Following the completion of the acquisition, the chief executive officer now directly owns 420,494 shares in the company, valued at $1,425,474.66. The disclosure for this purchase can be found here. Corporate insiders own 7.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in shares of ArQule during the 1st quarter worth approximately $100,000. CAPROCK Group Inc. purchased a new stake in shares of ArQule during the 2nd quarter worth approximately $109,000. Millennium Management LLC purchased a new stake in shares of ArQule during the 4th quarter worth approximately $165,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of ArQule during the 2nd quarter worth approximately $169,000. Finally, Element Capital Management LLC purchased a new stake in shares of ArQule during the 1st quarter worth approximately $225,000. 61.89% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Closed-End Mutual Funds (CEFs)

Earnings History and Estimates for ArQule (NASDAQ:ARQL)

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