ArQule (NASDAQ:ARQL) Updates FY 2019 Earnings Guidance

ArQule (NASDAQ:ARQL) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $-0.37–0.35 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.38. The company issued revenue guidance of $3-5 million, compared to the consensus revenue estimate of $4.25 million.

Shares of NASDAQ ARQL traded down $0.01 during trading hours on Friday, hitting $9.25. 1,080,273 shares of the stock were exchanged, compared to its average volume of 1,597,202. The company has a quick ratio of 6.45, a current ratio of 6.45 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $10.56. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -57.81 and a beta of 2.22. ArQule has a one year low of $2.23 and a one year high of $12.22.

ArQule (NASDAQ:ARQL) last released its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. The firm had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $1.43 million. ArQule had a negative net margin of 349.34% and a negative return on equity of 42.19%. During the same period in the prior year, the company earned $0.05 EPS. On average, analysts anticipate that ArQule will post -0.37 EPS for the current year.

ARQL has been the subject of several research analyst reports. Roth Capital upped their target price on shares of ArQule from $10.00 to $13.00 and gave the company a buy rating in a research note on Friday, June 14th. B. Riley upped their target price on shares of ArQule from $6.75 to $11.00 and gave the company a buy rating in a research note on Wednesday, May 29th. Oppenheimer set a $13.00 target price on shares of ArQule and gave the company a buy rating in a research note on Thursday, July 11th. Leerink Swann set a $12.00 target price on shares of ArQule and gave the company a buy rating in a research note on Saturday, June 15th. Finally, Zacks Investment Research cut shares of ArQule from a buy rating to a hold rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. ArQule currently has a consensus rating of Buy and an average price target of $12.17.

In other ArQule news, Director Ran Nussbaum acquired 307,692 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was bought at an average price of $9.75 per share, for a total transaction of $2,999,997.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 13.80% of the stock is owned by corporate insiders.

About ArQule

ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. The company's pipeline includes ARQ 531, an orally bioavailable, potent and reversible dual inhibitor of wild type and C481S-mutant Bruton's tyrosine kinase that is in Phase I trial for patients with B-cell malignancies refractory to other therapeutic options; and miransertib (ARQ 092), a potent and selective inhibitor of the protein kinase B (AKT), a serine/threonine kinase, which is in Phase Ib in combination with the hormonal therapy and anastrozole in patients with advanced endometrial cancer.

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Earnings History and Estimates for ArQule (NASDAQ:ARQL)

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