ArQule (ARQL) Given a $7.00 Price Target by Roth Capital Analysts

Roth Capital set a $7.00 price target on ArQule (NASDAQ:ARQL) in a research report sent to investors on Thursday. The firm currently has a buy rating on the biotechnology company’s stock.

ARQL has been the topic of a number of other reports. ValuEngine downgraded ArQule from a strong-buy rating to a buy rating in a research report on Wednesday, September 19th. Zacks Investment Research upgraded ArQule from a hold rating to a buy rating and set a $6.25 price objective on the stock in a research report on Wednesday, August 8th. BidaskClub upgraded ArQule from a hold rating to a buy rating in a research report on Saturday, July 28th. Finally, B. Riley set a $7.00 price objective on ArQule and gave the company a buy rating in a research report on Wednesday, August 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $6.85.

Shares of NASDAQ:ARQL traded down $0.18 during mid-day trading on Thursday, reaching $3.75. The stock had a trading volume of 674,698 shares, compared to its average volume of 1,198,140. The company has a current ratio of 9.60, a quick ratio of 5.99 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $408.73 million, a P/E ratio of -9.62 and a beta of 1.63. ArQule has a 1 year low of $1.00 and a 1 year high of $7.21.

ArQule (NASDAQ:ARQL) last posted its earnings results on Wednesday, October 31st. The biotechnology company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of $4.98 million during the quarter, compared to analysts’ expectations of $2.44 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. On average, research analysts forecast that ArQule will post -0.16 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. CAPROCK Group Inc. purchased a new stake in ArQule during the second quarter valued at approximately $109,000. Zebra Capital Management LLC purchased a new stake in ArQule during the second quarter valued at approximately $115,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of ArQule in the second quarter worth approximately $169,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of ArQule in the second quarter worth approximately $171,000. Finally, Voya Investment Management LLC purchased a new stake in shares of ArQule in the second quarter worth approximately $184,000. Institutional investors and hedge funds own 65.37% 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.

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Analyst Recommendations for ArQule (NASDAQ:ARQL)

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