ArQule, Inc. (NASDAQ:ARQL) has earned a consensus recommendation of “Buy” from the eight analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $6.75.

A number of equities analysts have recently commented on the company. BidaskClub downgraded ArQule from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research downgraded ArQule from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. B. Riley set a $7.00 price objective on ArQule and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Finally, ValuEngine downgraded ArQule from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st.

NASDAQ:ARQL traded up $0.06 on Friday, reaching $5.10. 19,915 shares of the company’s stock were exchanged, compared to its average volume of 905,321. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.99 and a quick ratio of 5.99. The firm has a market capitalization of $595.23 million, a PE ratio of -13.00 and a beta of 1.01. ArQule has a 52-week low of $0.97 and a 52-week high of $7.21.

ArQule (NASDAQ:ARQL) last issued its quarterly earnings results on Wednesday, August 1st. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. The business had revenue of $13.71 million for the quarter, compared to analysts’ expectations of $7.70 million. During the same quarter last year, the company earned ($0.12) earnings per share. analysts expect that ArQule will post -0.12 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in ARQL. Jane Street Group LLC acquired a new position in shares of ArQule during the first quarter worth about $100,000. CAPROCK Group Inc. acquired a new position in ArQule in the second quarter valued at approximately $109,000. Zebra Capital Management LLC acquired a new position in ArQule in the second quarter valued at approximately $115,000. Millennium Management LLC acquired a new position in ArQule in the fourth quarter valued at approximately $165,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in ArQule in the second quarter valued at approximately $169,000. 65.10% of the stock is owned by institutional investors and hedge funds.

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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