ArQule, Inc. (NASDAQ:ARQL) - Investment analysts at Leerink Swann boosted their FY2017 earnings per share estimates for ArQule in a research report issued to clients and investors on Tuesday. Leerink Swann analyst M. Schmidt now forecasts that the biotechnology company will post earnings per share of ($0.44) for the year, up from their prior forecast of ($0.45).
Separately, Zacks Investment Research upgraded shares of ArQule from a “hold” rating to a “buy” rating and set a $1.00 target price for the company in a research report on Thursday.
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Shares of ArQule (NASDAQ ARQL) opened at 1.03 on Thursday. The firm’s market capitalization is $73.28 million. ArQule has a 12-month low of $0.92 and a 12-month high of $1.82. The stock’s 50 day moving average price is $1.21 and its 200-day moving average price is $1.19.
ArQule (NASDAQ:ARQL) last released its quarterly earnings data on Friday, August 4th. The biotechnology company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. ArQule had a negative return on equity of 135.68% and a negative net margin of 482.44%. During the same quarter in the prior year, the business posted ($0.07) earnings per share.
A number of large investors have recently added to or reduced their stakes in ARQL. Northern Trust Corp increased its position in ArQule by 0.9% in the second quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock worth $192,000 after buying an additional 1,385 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of ArQule by 1.4% in the fourth quarter. Renaissance Technologies LLC now owns 2,017,600 shares of the biotechnology company’s stock valued at $2,542,000 after buying an additional 26,900 shares during the period. Finally, First Eagle Investment Management LLC increased its position in shares of ArQule by 8.6% in the second quarter. First Eagle Investment Management LLC now owns 11,847,575 shares of the biotechnology company’s stock valued at $14,691,000 after buying an additional 934,842 shares during the period. Institutional investors own 60.41% of the company’s stock.
ArQule Company Profile
ArQule, Inc is a biopharmaceutical company. The Company is engaged in the research and development of therapeutics to treat cancers and rare diseases. These drugs focuses on the biological pathways implicated in a range of cancers and certain non-oncology indications. Its clinical-stage pipeline consists of over four drug candidates, all of which are in targeted patient populations.
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