ArQule, Inc. (NASDAQ:ARQL) shares saw unusually-high trading volume on Thursday . Approximately 4,932,689 shares were traded during trading, an increase of 274% from the previous session’s volume of 1,319,551 shares.The stock last traded at $7.03 and had previously closed at $6.30.
ARQL has been the subject of a number of analyst reports. Zacks Investment Research lowered ArQule from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. BidaskClub lowered ArQule from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. Finally, ValuEngine upgraded ArQule from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $7.63.
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 stock has a market capitalization of $768.45 million, a PE ratio of -42.38 and a beta of 2.27.
ArQule (NASDAQ:ARQL) last announced its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). ArQule had a negative return on equity of 28.90% and a negative net margin of 83.15%. The business had revenue of $1.35 million for the quarter, compared to analyst estimates of $1.70 million. On average, research analysts expect that ArQule, Inc. will post -0.38 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY boosted its position in ArQule by 4.7% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 32,403 shares of the biotechnology company’s stock worth $155,000 after acquiring an additional 1,459 shares during the period. Baystate Wealth Management LLC acquired a new position in ArQule during the 1st quarter worth $25,000. Quantamental Technologies LLC boosted its position in ArQule by 221.0% during the 1st quarter. Quantamental Technologies LLC now owns 7,383 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 5,083 shares during the period. Meeder Asset Management Inc. boosted its position in ArQule by 53.8% during the 4th quarter. Meeder Asset Management Inc. now owns 15,843 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 5,541 shares during the period. Finally, SG Americas Securities LLC boosted its position in ArQule by 76.9% during the 1st quarter. SG Americas Securities LLC now owns 17,924 shares of the biotechnology company’s stock worth $86,000 after acquiring an additional 7,790 shares during the period. Institutional investors own 73.23% of the company’s stock.
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ArQule Company Profile (NASDAQ:ARQL)
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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