ArQule, Inc. (NASDAQ:ARQL) – Investment analysts at B. Riley lifted their Q1 2018 earnings per share (EPS) estimates for shares of ArQule in a research report issued to clients and investors on Monday. B. Riley analyst G. Zavoico now expects that the biotechnology company will post earnings per share of ($0.05) for the quarter, up from their previous estimate of ($0.09). B. Riley currently has a “Buy” rating and a $3.00 target price on the stock. B. Riley also issued estimates for ArQule’s Q2 2018 earnings at ($0.10) EPS, Q3 2018 earnings at ($0.10) EPS, Q4 2018 earnings at ($0.07) EPS, FY2018 earnings at ($0.32) EPS, FY2019 earnings at ($0.34) EPS, FY2020 earnings at ($0.32) EPS and FY2021 earnings at ($0.34) EPS.
Other equities analysts also recently issued research reports about the stock. Needham & Company LLC upgraded shares of ArQule from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Zacks Investment Research upgraded shares of ArQule from a “hold” rating to a “buy” rating and set a $1.50 price objective for the company in a research report on Wednesday, November 15th. Finally, ValuEngine upgraded shares of ArQule from a “strong sell” rating to a “sell” rating in a research report on Friday, November 17th.
A number of institutional investors have recently made changes to their positions in ARQL. Curbstone Financial Management Corp raised its position in ArQule by 100.0% during the 3rd quarter. Curbstone Financial Management Corp now owns 104,572 shares of the biotechnology company’s stock worth $116,000 after buying an additional 52,286 shares during the last quarter. Northern Trust Corp increased its holdings in shares of ArQule by 0.9% in the 2nd quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock valued at $192,000 after purchasing an additional 1,385 shares in the last quarter. Virtu Financial LLC increased its holdings in shares of ArQule by 343.8% in the 4th quarter. Virtu Financial LLC now owns 129,038 shares of the biotechnology company’s stock valued at $213,000 after purchasing an additional 99,964 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of ArQule in the 3rd quarter valued at about $2,220,000. Finally, Renaissance Technologies LLC increased its holdings in shares of ArQule by 15.9% in the 4th quarter. Renaissance Technologies LLC now owns 2,295,703 shares of the biotechnology company’s stock valued at $3,788,000 after purchasing an additional 315,203 shares in the last quarter. Institutional investors own 54.86% of the company’s stock.
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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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