ArQule, Inc. (NASDAQ:ARQL)’s share price traded up 0.7% on Thursday . The company traded as high as $2.94 and last traded at $2.89. 1,154,082 shares changed hands during trading, an increase of 206% from the average session volume of 376,672 shares. The stock had previously closed at $2.87.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of ArQule from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine raised shares of ArQule from a “sell” rating to a “hold” rating in a research note on Thursday, March 15th. Roth Capital assumed coverage on shares of ArQule in a research note on Thursday, February 22nd. They set a “buy” rating and a $5.00 target price for the company. B. Riley set a $3.00 target price on shares of ArQule and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, Needham & Company LLC raised shares of ArQule from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. ArQule has an average rating of “Buy” and an average price target of $3.50.

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The company has a market capitalization of $211.68, a P/E ratio of -7.36 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.98 and a quick ratio of 4.98.

ArQule (NASDAQ:ARQL) last announced its earnings results on Monday, March 5th. The biotechnology company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). During the same quarter in the prior year, the company posted ($0.10) EPS. equities research analysts predict that ArQule, Inc. will post -0.32 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC bought a new position in ArQule during the fourth quarter worth $165,000. Northern Trust Corp increased its stake in ArQule by 0.9% in the second quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock valued at $192,000 after purchasing an additional 1,385 shares in the last quarter. Virtu Financial LLC increased its stake in ArQule by 343.8% in the fourth quarter. Virtu Financial LLC now owns 129,038 shares of the biotechnology company’s stock valued at $213,000 after purchasing an additional 99,964 shares in the last quarter. Deutsche Bank AG bought a new stake in ArQule in the fourth quarter valued at $390,000. Finally, Point72 Asset Management L.P. bought a new stake in ArQule in the third quarter valued at $2,220,000. 67.05% of the stock is owned by institutional investors and hedge funds.

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ArQule Company Profile

ArQule, Inc is a biopharmaceutical company. The Company is engaged in the research and development of therapeutics to treat cancers and rare diseases. These drugs focuses on the biological pathways implicated in a range of cancers and certain non-oncology indications. Its clinical-stage pipeline consists of over four drug candidates, all of which are in targeted patient populations.

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