ArQule, Inc. (NASDAQ:ARQL) Director Ronald M. Lindsay acquired 23,900 shares of the company’s stock in a transaction on Thursday, May 10th. The stock was acquired at an average price of $2.67 per share, for a total transaction of $63,813.00. Following the purchase, the director now directly owns 43,900 shares of the company’s stock, valued at $117,213. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of ARQL traded up $0.01 during trading hours on Friday, hitting $2.73. The stock had a trading volume of 20,667 shares, compared to its average volume of 960,243. The company has a debt-to-equity ratio of 1.50, a current ratio of 5.42 and a quick ratio of 4.98. The company has a market cap of $223.04 million, a PE ratio of -7.00 and a beta of 0.83. ArQule, Inc. has a 1-year low of $2.64 and a 1-year high of $2.78.
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ArQule (NASDAQ:ARQL) last released its quarterly earnings results on Monday, May 7th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The business had revenue of $4.14 million during the quarter, compared to analyst estimates of $2.27 million. During the same period in the prior year, the business earned ($0.11) EPS. analysts expect that ArQule, Inc. will post -0.21 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC bought a new position in shares of ArQule during the 4th quarter worth approximately $165,000. Virtu Financial LLC lifted its position in shares of ArQule by 343.8% during the 4th quarter. Virtu Financial LLC now owns 129,038 shares of the biotechnology company’s stock worth $213,000 after buying an additional 99,964 shares in the last quarter. Deutsche Bank AG bought a new position in shares of ArQule during the 4th quarter worth approximately $390,000. Candriam Luxembourg S.C.A. bought a new position in shares of ArQule during the 1st quarter worth approximately $605,000. Finally, JPMorgan Chase & Co. lifted its position in shares of ArQule by 100.0% during the 1st quarter. JPMorgan Chase & Co. now owns 240,268 shares of the biotechnology company’s stock worth $692,000 after buying an additional 120,109 shares in the last quarter. Institutional investors and hedge funds own 67.15% of the company’s stock.
Several analysts have issued reports on ARQL shares. BidaskClub lowered ArQule from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 7th. Zacks Investment Research upgraded ArQule from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a research note on Friday, April 6th. B. Riley set a $4.00 target price on ArQule and gave the company a “buy” rating in a research report on Monday, March 26th. Roth Capital started coverage on ArQule in a report on Thursday, February 22nd. They issued a “buy” rating and a $5.00 target price on the stock. Finally, ValuEngine raised ArQule from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Seven analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of $4.69.
ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. Its lead product candidate is tivantinib (ARQ 197), a small molecule inhibitor of the c-Met receptor tyrosine kinase and its biological pathway, which is in Phase III clinical trial for the treatment of liver cancer.