ArQule, Inc. (NASDAQ:ARQL) hit a new 52-week high on Tuesday . The stock traded as high as $7.21 and last traded at $7.18, with a volume of 92749 shares traded. The stock had previously closed at $6.75.

Several brokerages have weighed in on ARQL. Zacks Investment Research raised ArQule from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Wednesday, February 27th. BidaskClub raised ArQule from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. ValuEngine raised ArQule from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 21st. Finally, Royal Bank of Canada set a $10.00 target price on ArQule and gave the stock a “buy” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. ArQule has a consensus rating of “Buy” and an average price target of $7.63.

The company has a market capitalization of $788.13 million, a PE ratio of -45.88 and a beta of 2.27. The company has a debt-to-equity ratio of 0.17, a current ratio of 6.45 and a quick ratio of 6.45.

ArQule (NASDAQ:ARQL) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $1.70 million. On average, sell-side analysts anticipate that ArQule, Inc. will post -0.38 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Baystate Wealth Management LLC bought a new position in shares of ArQule in the first quarter worth $25,000. SG Americas Securities LLC bought a new position in shares of ArQule in the fourth quarter worth $28,000. Two Sigma Securities LLC bought a new position in shares of ArQule in the fourth quarter worth $30,000. Dimensional Fund Advisors LP bought a new position in shares of ArQule in the fourth quarter worth $32,000. Finally, Jane Street Group LLC bought a new position in shares of ArQule in the fourth quarter worth $33,000. 74.26% of the stock is owned by institutional investors.

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About ArQule (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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