Tekla Capital Management LLC acquired a new stake in ArQule, Inc. (NASDAQ:ARQL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 250,000 shares of the biotechnology company’s stock, valued at approximately $1,415,000. Tekla Capital Management LLC owned 0.23% of ArQule as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in ARQL. Zebra Capital Management LLC bought a new position in shares of ArQule in the second quarter valued at approximately $115,000. State Board of Administration of Florida Retirement System bought a new position in shares of ArQule in the second quarter valued at approximately $169,000. Metropolitan Life Insurance Co. NY bought a new position in shares of ArQule in the second quarter valued at approximately $171,000. Voya Investment Management LLC bought a new position in shares of ArQule in the second quarter valued at approximately $184,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of ArQule in the second quarter valued at approximately $242,000. 78.23% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on the company. ValuEngine lowered ArQule from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 19th. Zacks Investment Research upgraded ArQule from a “hold” rating to a “buy” rating and set a $6.25 target price on the stock in a report on Wednesday, August 8th. B. Riley set a $7.00 target price on ArQule and gave the company a “buy” rating in a report on Friday, November 2nd. BidaskClub lowered ArQule from a “hold” rating to a “sell” rating in a report on Wednesday, November 7th. Finally, Roth Capital set a $7.00 target price on ArQule and gave the company a “buy” rating in a report on Friday, October 19th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. ArQule presently has an average rating of “Buy” and a consensus price target of $6.85.

Shares of ArQule stock opened at $3.71 on Wednesday. The firm has a market cap of $404.37 million, a P/E ratio of -9.51 and a beta of 1.60. ArQule, Inc. has a 12 month low of $1.27 and a 12 month high of $7.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 9.60 and a current ratio of 9.60.

ArQule (NASDAQ:ARQL) last issued its quarterly earnings results on Wednesday, October 31st. The biotechnology company reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. The business had revenue of $4.98 million for the quarter, compared to the consensus estimate of $2.44 million. During the same quarter last year, the business posted ($0.09) earnings per share. Research analysts anticipate that ArQule, Inc. will post -0.16 EPS for the current year.

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ArQule Profile

ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. It offers Derazantinib (ARQ 087), a multi-kinase inhibitor of the fibroblast growth factor receptor (FGFR) family that is in a registration trial in intrahepatic cholangiocarcinoma with FGFR2 fusions.

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Institutional Ownership by Quarter for ArQule (NASDAQ:ARQL)

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