ArQule Target of Unusually Large Options Trading (NASDAQ:ARQL)

ArQule, Inc. (NASDAQ:ARQL) saw some unusual options trading activity on Tuesday. Stock investors bought 2,022 put options on the stock. This is an increase of approximately 1,125% compared to the typical volume of 165 put options.

In other news, Director Ran Nussbaum acquired 307,692 shares of ArQule stock in a transaction that occurred on Thursday, June 27th. The stock was bought at an average price of $9.75 per share, with a total value of $2,999,997.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 13.80% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in ArQule by 5.7% during the 2nd quarter. BlackRock Inc. now owns 8,978,971 shares of the biotechnology company’s stock valued at $98,856,000 after acquiring an additional 480,873 shares during the period. Eagle Asset Management Inc. bought a new position in shares of ArQule in the 2nd quarter worth approximately $30,597,000. Candriam Luxembourg S.C.A. increased its holdings in ArQule by 96.5% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 2,755,237 shares of the biotechnology company’s stock worth $30,202,000 after acquiring an additional 1,353,056 shares in the last quarter. Carillon Tower Advisers Inc. purchased a new stake in ArQule in the 2nd quarter worth approximately $26,390,000. Finally, Emerald Advisers LLC purchased a new stake in ArQule in the 2nd quarter worth approximately $16,540,000. 77.91% of the stock is currently owned by institutional investors.

ARQL has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price target on shares of ArQule to $12.00 and gave the company an “outperform” rating in a report on Wednesday, June 19th. Leerink Swann set a $12.00 price target on shares of ArQule and gave the company a “buy” rating in a report on Saturday, June 15th. Zacks Investment Research downgraded shares of ArQule from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Oppenheimer set a $13.00 target price on shares of ArQule and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, BidaskClub downgraded shares of ArQule from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $12.17.

NASDAQ:ARQL opened at $9.01 on Wednesday. The stock has a 50-day simple moving average of $10.46. The stock has a market cap of $1.11 billion, a P/E ratio of -56.31 and a beta of 2.22. The company has a quick ratio of 12.54, a current ratio of 12.54 and a debt-to-equity ratio of 0.07. ArQule has a 1-year low of $2.23 and a 1-year high of $12.22.

ArQule (NASDAQ:ARQL) last announced its quarterly earnings data 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. ArQule had a negative net margin of 349.34% and a negative return on equity of 33.45%. The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $1.43 million. During the same period in the prior year, the firm posted $0.05 EPS. As a group, analysts expect that ArQule will post -0.37 EPS for the current fiscal year.

ArQule Company Profile

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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