ArQule Inc. (ARQL) Given $3.75 Average Target Price by Analysts
Shares of ArQule Inc. (NASDAQ:ARQL) have been assigned an average broker rating score of 2.50 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has given a buy recommendation to the company.
Brokerages have set a 12 month consensus price objective of $3.75 for the company and are expecting that the company will post ($0.09) earnings per share for the current quarter, according to Zacks. Zacks has also given ArQule an industry rank of 113 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research lowered ArQule from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th.
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A number of hedge funds have recently added to or reduced their stakes in ARQL. Bridgeway Capital Management Inc. raised its stake in ArQule by 1.8% in the second quarter. Bridgeway Capital Management Inc. now owns 360,193 shares of the company’s stock valued at $684,000 after buying an additional 6,200 shares in the last quarter. BlackRock Fund Advisors raised its stake in ArQule by 11.3% in the second quarter. BlackRock Fund Advisors now owns 162,541 shares of the company’s stock valued at $309,000 after buying an additional 16,467 shares in the last quarter. Vanguard Group Inc. raised its stake in ArQule by 10.6% in the second quarter. Vanguard Group Inc. now owns 2,960,487 shares of the company’s stock valued at $5,625,000 after buying an additional 282,734 shares in the last quarter. Bank of New York Mellon Corp raised its stake in ArQule by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 87,710 shares of the company’s stock valued at $167,000 after buying an additional 2,160 shares in the last quarter. Finally, Nantahala Capital Management LLC raised its stake in ArQule by 44.6% in the first quarter. Nantahala Capital Management LLC now owns 8,543,652 shares of the company’s stock valued at $13,670,000 after buying an additional 2,635,530 shares in the last quarter. 58.16% of the stock is owned by institutional investors and hedge funds.
Shares of ArQule (NASDAQ:ARQL) remained flat at $1.52 during trading on Monday. 2,055 shares of the stock traded hands. The stock’s 50 day moving average price is $1.57 and its 200 day moving average price is $1.64. The firm’s market cap is $108.08 million. ArQule has a 52-week low of $1.37 and a 52-week high of $2.65.
ArQule (NASDAQ:ARQL) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. ArQule had a negative return on equity of 44.89% and a negative net margin of 197.25%. The company earned $1.07 million during the quarter, compared to analyst estimates of $1.13 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. ArQule’s revenue was down 64.3% compared to the same quarter last year. On average, analysts forecast that ArQule will post ($0.33) EPS for the current fiscal year.
ArQule Company Profile
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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