ArQule (ARQL) Stock Price Up 12.1%
ArQule, Inc. (NASDAQ:ARQL)’s share price rose 12.1% during trading on Thursday . The stock traded as high as $1.98 and last traded at $1.95. Approximately 607,400 shares changed hands during trading, an increase of 21% from the average daily volume of 503,300 shares. The stock had previously closed at $1.74.
ARQL has been the topic of several analyst reports. Zacks Investment Research upgraded shares of ArQule from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a report on Friday, September 8th. ValuEngine upgraded shares of ArQule from a “strong sell” rating to a “sell” rating in a report on Friday, November 17th. Finally, Needham & Company LLC upgraded shares of ArQule from a “hold” rating to a “buy” rating in a report on Thursday, December 14th.
The stock has a market cap of $161.15, a price-to-earnings ratio of -4.63 and a beta of 1.38. The company has a debt-to-equity ratio of 2.33, a quick ratio of 3.45 and a current ratio of 3.45.
ArQule (NASDAQ:ARQL) last issued its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.02. During the same quarter in the prior year, the company earned ($0.08) EPS. equities research analysts forecast that ArQule, Inc. will post -0.39 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Curbstone Financial Management Corp grew its holdings in ArQule by 100.0% during the 3rd quarter. Curbstone Financial Management Corp now owns 104,572 shares of the biotechnology company’s stock valued at $116,000 after purchasing an additional 52,286 shares during the last quarter. Northern Trust Corp grew its holdings in ArQule by 0.9% during the 2nd 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 during the last quarter. Point72 Asset Management L.P. bought a new position in ArQule during the 3rd quarter valued at about $2,220,000. Finally, First Eagle Investment Management LLC boosted its position in ArQule by 5.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 12,438,996 shares of the biotechnology company’s stock valued at $13,807,000 after buying an additional 591,421 shares during the period. Institutional investors own 52.12% of the company’s stock.
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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