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ArQule Inc. (NASDAQ:ARQL) issued an update on its FY14 earnings guidance on Tuesday morning. The company provided EPS guidance of ($0.48)-(0.52) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.48), reports. The company issued revenue guidance of $8-10 million, compared to the consensus revenue estimate of $10.01 million.

On a related note, analysts at MLV & Co
cut their price target on shares of ArQule from $3.00 to $1.75 in a research note on Monday, May 12th. They now have a hold rating on the stock. Five investment analysts have rated the stock with a hold rating, The company has an average rating of Hold and a consensus price target of $2.95.

ArQule Inc. (NASDAQ:ARQL) opened at 1.31 on Tuesday. ArQule Inc. has a 52 week low of $1.26 and a 52 week high of $2.94. The stock has a 50-day moving average of $1.42 and a 200-day moving average of $1.78. The company’s market cap is $82.2 million.

ArQule (NASDAQ:ARQL) last released its earnings data on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.12) by $0.02. The company had revenue of $2.90 million for the quarter, compared to the consensus estimate of $2.43 million. During the same quarter last year, the company posted ($0.11) earnings per share. ArQule’s revenue was down 34.1% compared to the same quarter last year. On average, analysts predict that ArQule Inc. will post $-0.49 earnings per share for the current fiscal year.

ArQule, Inc is a clinical-stage biotechnology company engaged in the research and development of cancer therapeutics.

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