ArQule (ARQL) Lowered to Sell at BidaskClub

BidaskClub lowered shares of ArQule (NASDAQ:ARQL) from a hold rating to a sell rating in a research note released on Wednesday morning.

ARQL has been the subject of several other research reports. ValuEngine downgraded shares of ArQule from a strong-buy rating to a buy rating in a report on Wednesday, September 19th. Zacks Investment Research upgraded shares of ArQule from a hold rating to a buy rating and set a $6.25 price objective on the stock in a research note on Wednesday, August 8th. B. Riley set a $7.00 price objective on shares of ArQule and gave the company a buy rating in a research note on Friday, November 2nd. Finally, Roth Capital set a $7.00 price objective on shares of ArQule and gave the company a buy rating in a research note on Friday, October 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $6.85.

Shares of ARQL traded down $0.07 during midday trading on Wednesday, hitting $3.99. 805,899 shares of the stock traded hands, compared to its average volume of 1,147,593. ArQule has a 1-year low of $1.20 and a 1-year high of $7.21. The company has a market cap of $439.24 million, a price-to-earnings ratio of -10.23 and a beta of 1.63. The company has a debt-to-equity ratio of 0.16, a quick ratio of 9.60 and a current ratio of 9.60.

ArQule (NASDAQ:ARQL) last announced its quarterly earnings results on Wednesday, October 31st. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. The firm had revenue of $4.98 million for the quarter, compared to analyst estimates of $2.44 million. During the same period last year, the firm posted ($0.09) EPS. Analysts predict that ArQule will post -0.16 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of ARQL. BlackRock Inc. raised its stake in shares of ArQule by 156.6% during the second quarter. BlackRock Inc. now owns 5,389,833 shares of the biotechnology company’s stock valued at $29,806,000 after purchasing an additional 3,289,226 shares in the last quarter. Millennium Management LLC raised its stake in shares of ArQule by 141.8% during the second quarter. Millennium Management LLC now owns 4,175,644 shares of the biotechnology company’s stock valued at $23,091,000 after purchasing an additional 2,448,660 shares in the last quarter. Menora Mivtachim Holdings LTD. bought a new stake in shares of ArQule during the second quarter valued at about $11,943,000. Northern Trust Corp raised its stake in shares of ArQule by 538.3% during the second quarter. Northern Trust Corp now owns 951,591 shares of the biotechnology company’s stock valued at $5,262,000 after purchasing an additional 802,504 shares in the last quarter. Finally, Handelsbanken Fonder AB bought a new stake in shares of ArQule during the second quarter valued at about $3,871,000. Institutional investors and hedge funds own 65.43% of the company’s stock.

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.

Featured Story: What is a capital gain?

Analyst Recommendations for ArQule (NASDAQ:ARQL)

Receive News & Ratings for ArQule Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArQule and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply