ArQule, Inc. (ARQL) Expected to Announce Earnings of -$0.06 Per Share

Analysts expect ArQule, Inc. (NASDAQ:ARQL) to report ($0.06) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for ArQule’s earnings. The lowest EPS estimate is ($0.08) and the highest is $0.01. ArQule posted earnings per share of ($0.09) in the same quarter last year, which would indicate a positive year-over-year growth rate of 33.3%. The business is scheduled to announce its next quarterly earnings report on Monday, March 4th.

According to Zacks, analysts expect that ArQule will report full-year earnings of ($0.12) per share for the current fiscal year, with EPS estimates ranging from ($0.16) to ($0.05). For the next financial year, analysts anticipate that the company will report earnings of ($0.30) per share, with EPS estimates ranging from ($0.41) to ($0.10). Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover ArQule.

ArQule (NASDAQ:ARQL) last released its earnings results on Wednesday, October 31st. The biotechnology company reported ($0.05) earnings per share 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 analyst estimates of $2.44 million. During the same quarter last year, the company earned ($0.09) earnings per share.

ARQL has been the subject of a number of research analyst reports. ValuEngine downgraded ArQule from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 19th. BidaskClub downgraded ArQule from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Zacks Investment Research downgraded ArQule from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. 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 issued a buy rating to the company. ArQule has a consensus rating of “Buy” and an average price target of $6.85.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of ArQule by 156.6% during the 2nd quarter. BlackRock Inc. now owns 5,389,833 shares of the biotechnology company’s stock valued at $29,806,000 after acquiring an additional 3,289,226 shares during the last quarter. Millennium Management LLC lifted its position in shares of ArQule by 141.8% during the 2nd quarter. Millennium Management LLC now owns 4,175,644 shares of the biotechnology company’s stock valued at $23,091,000 after acquiring an additional 2,448,660 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of ArQule by 14.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,860,683 shares of the biotechnology company’s stock valued at $15,820,000 after acquiring an additional 363,510 shares during the last quarter. Menora Mivtachim Holdings LTD. acquired a new stake in shares of ArQule during the 2nd quarter valued at $11,943,000. Finally, Handelsbanken Fonder AB lifted its position in shares of ArQule by 42.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,000,000 shares of the biotechnology company’s stock valued at $5,660,000 after acquiring an additional 300,000 shares during the last quarter. Institutional investors own 65.37% of the company’s stock.

ARQL opened at $3.75 on Thursday. The company has a market capitalization of $408.73 million, a price-to-earnings ratio of -9.62 and a beta of 1.63. The company has a debt-to-equity ratio of 0.16, a current ratio of 9.60 and a quick ratio of 5.99. ArQule has a 1-year low of $1.00 and a 1-year high of $7.21.

About ArQule

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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Earnings History and Estimates for ArQule (NASDAQ:ARQL)

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