Equities research analysts forecast that ArQule, Inc. (NASDAQ:ARQL) will announce $1.81 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for ArQule’s earnings, with the highest sales estimate coming in at $2.05 million and the lowest estimate coming in at $1.50 million. The business is expected to announce its next quarterly earnings results on Monday, March 4th.

According to Zacks, analysts expect that ArQule will report full year sales of $24.63 million for the current financial year, with estimates ranging from $24.33 million to $24.87 million. For the next financial year, analysts expect that the firm will report sales of $6.50 million, with estimates ranging from $3.00 million to $10.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for ArQule.

ArQule (NASDAQ:ARQL) last issued its quarterly earnings results on Wednesday, October 31st. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, beating 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) EPS.

A number of analysts have recently issued reports on the company. BidaskClub upgraded ArQule from a “hold” rating to a “buy” rating in a research report on Thursday, August 16th. Zacks Investment Research downgraded ArQule from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. B. Riley set a $7.00 price target on ArQule and gave the company a “buy” rating in a research report on Wednesday, August 8th. ValuEngine downgraded ArQule from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Finally, Roth Capital set a $7.00 target price on ArQule and gave the stock a “buy” rating in a research report on Friday, October 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $6.85.

Shares of ARQL traded down $0.07 during trading hours on Friday, reaching $3.99. 805,899 shares of the company’s stock traded hands, compared to its average volume of 1,147,593. The company has a market cap of $439.24 million, a PE ratio of -10.23 and a beta of 1.63. The company has a current ratio of 9.60, a quick ratio of 9.60 and a debt-to-equity ratio of 0.16. ArQule has a 12 month low of $1.20 and a 12 month high of $7.21.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in ArQule by 26.3% in the 3rd quarter. BlackRock Inc. now owns 6,809,355 shares of the biotechnology company’s stock worth $38,540,000 after buying an additional 1,419,522 shares during the last quarter. Millennium Management LLC lifted its position in ArQule by 141.8% in the 2nd quarter. Millennium Management LLC now owns 4,175,644 shares of the biotechnology company’s stock worth $23,091,000 after buying an additional 2,448,660 shares during the last quarter. Renaissance Technologies LLC lifted its position in ArQule by 14.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,860,683 shares of the biotechnology company’s stock worth $15,820,000 after buying an additional 363,510 shares during the last quarter. Menora Mivtachim Holdings LTD. bought a new stake in ArQule in the 2nd quarter worth approximately $11,943,000. Finally, Candriam Luxembourg S.C.A. lifted its position in ArQule by 104.0% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 1,152,727 shares of the biotechnology company’s stock worth $6,524,000 after buying an additional 587,727 shares during the last quarter. Institutional investors own 65.43% of the company’s stock.

ArQule Company 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.

Recommended Story: How can investors find ex-dividend dates?

Get a free copy of the Zacks research report on ArQule (ARQL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for ArQule (NASDAQ:ARQL)

Receive News & Ratings for ArQule Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArQule and related companies with MarketBeat.com's FREE daily email newsletter.