ArQule, Inc. (NASDAQ:ARQL)’s share price dropped 5.8% on Wednesday . The company traded as low as $1.27 and last traded at $1.30. Approximately 687,947 shares were traded during mid-day trading, an increase of 240% from the average daily volume of 202,132 shares. The stock had previously closed at $1.38.

ARQL has been the subject of a number of research analyst reports. ValuEngine downgraded shares of ArQule from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Zacks Investment Research raised shares of ArQule from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a research note on Wednesday, November 15th.

The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 2.33.

ArQule (NASDAQ:ARQL) last announced its earnings results on Thursday, November 9th. The biotechnology company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.02. During the same quarter in the prior year, the company earned ($0.08) earnings per share. equities analysts predict that ArQule, Inc. will post -0.39 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in ARQL. Point72 Asset Management L.P. bought a new position in shares of ArQule in the third quarter worth about $2,220,000. First Eagle Investment Management LLC raised its stake in shares of ArQule by 8.6% in the second quarter. First Eagle Investment Management LLC now owns 11,847,575 shares of the biotechnology company’s stock worth $14,691,000 after acquiring an additional 934,842 shares during the last quarter. Curbstone Financial Management Corp raised its stake in shares of ArQule by 100.0% during the third quarter. Curbstone Financial Management Corp now owns 104,572 shares of the biotechnology company’s stock worth $116,000 after buying an additional 52,286 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of ArQule by 0.9% during the second quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock worth $192,000 after buying an additional 1,385 shares during the last quarter. 52.12% of the stock is owned by institutional investors.

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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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