ArQule, Inc. (NASDAQ:ARQL) – Analysts at B. Riley lifted their Q1 2018 earnings estimates for shares of ArQule in a research note issued on Monday. B. Riley analyst G. Zavoico now forecasts that the biotechnology company will post earnings per share of ($0.05) for the quarter, up from their prior forecast of ($0.09). B. Riley currently has a “Buy” rating and a $3.00 target price on the stock. B. Riley also issued estimates for ArQule’s Q2 2018 earnings at ($0.10) EPS, Q3 2018 earnings at ($0.10) EPS, Q4 2018 earnings at ($0.07) EPS, FY2018 earnings at ($0.32) EPS, FY2019 earnings at ($0.34) EPS, FY2020 earnings at ($0.32) EPS and FY2021 earnings at ($0.34) EPS.

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC raised shares of ArQule from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th. Zacks Investment Research cut shares of ArQule from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, ValuEngine raised shares of ArQule from a “strong sell” rating to a “sell” rating in a research report on Friday, November 17th.

Shares of ArQule (NASDAQ:ARQL) opened at $1.61 on Wednesday. ArQule has a 12 month low of $0.92 and a 12 month high of $1.98. The stock has a market cap of $135.02, a PE ratio of -4.02 and a beta of 1.48. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 2.33.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC boosted its position in shares of ArQule by 5.0% in the third quarter. First Eagle Investment Management LLC now owns 12,438,996 shares of the biotechnology company’s stock worth $13,807,000 after acquiring an additional 591,421 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of ArQule by 15.9% in the fourth quarter. Renaissance Technologies LLC now owns 2,295,703 shares of the biotechnology company’s stock worth $3,788,000 after acquiring an additional 315,203 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of ArQule in the third quarter worth approximately $2,220,000. Northern Trust Corp boosted its position in shares of 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 acquiring an additional 1,385 shares during the last quarter. Finally, Virtu Financial LLC boosted its position in shares of ArQule by 343.8% in the fourth quarter. Virtu Financial LLC now owns 129,038 shares of the biotechnology company’s stock worth $213,000 after acquiring an additional 99,964 shares during the last quarter. 54.86% of the stock is currently owned by institutional investors and hedge funds.

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About ArQule

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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