Oppenheimer Reiterates “$11.00” Price Target for ArQule (NASDAQ:ARQL)

ArQule (NASDAQ:ARQL) has been given a $11.00 price objective by equities researchers at Oppenheimer in a note issued to investors on Wednesday, June 5th, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Oppenheimer’s price target would indicate a potential downside of 0.09% from the stock’s previous close.

Several other research firms also recently weighed in on ARQL. BidaskClub upgraded ArQule from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. ValuEngine upgraded ArQule from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 5th. Zacks Investment Research downgraded ArQule from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. Roth Capital restated a “buy” rating on shares of ArQule in a research note on Tuesday, May 28th. Finally, B. Riley upped their target price on ArQule from $6.75 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. ArQule presently has an average rating of “Buy” and an average price target of $10.79.

NASDAQ:ARQL traded up $0.18 during mid-day trading on Wednesday, hitting $11.01. 3,583,358 shares of the company’s stock traded hands, compared to its average volume of 6,267,556. The stock has a fifty day moving average of $7.75. ArQule has a twelve month low of $2.23 and a twelve month high of $11.11. The company has a market cap of $1.21 billion, a P/E ratio of -68.81 and a beta of 1.96. The company has a quick ratio of 6.45, a current ratio of 6.45 and a debt-to-equity ratio of 0.17.

ArQule (NASDAQ:ARQL) last announced its earnings results on Wednesday, May 1st. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). ArQule had a negative net margin of 83.15% and a negative return on equity of 28.90%. The business had revenue of $1.35 million for the quarter, compared to analyst estimates of $1.70 million. Analysts expect that ArQule will post -0.37 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co NY boosted its position in ArQule by 4.7% during the first quarter. Metropolitan Life Insurance Co NY now owns 32,403 shares of the biotechnology company’s stock worth $155,000 after purchasing an additional 1,459 shares in the last quarter. Baystate Wealth Management LLC purchased a new position in ArQule during the first quarter worth approximately $25,000. Quantamental Technologies LLC boosted its position in ArQule by 221.0% during the first quarter. Quantamental Technologies LLC now owns 7,383 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 5,083 shares in the last quarter. SG Americas Securities LLC boosted its position in ArQule by 76.9% during the first quarter. SG Americas Securities LLC now owns 17,924 shares of the biotechnology company’s stock worth $86,000 after purchasing an additional 7,790 shares in the last quarter. Finally, Two Sigma Securities LLC purchased a new position in ArQule during the fourth quarter worth approximately $30,000. Institutional investors own 72.21% 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. The company's pipeline includes ARQ 531, an orally bioavailable, potent and reversible dual inhibitor of wild type and C481S-mutant Bruton's tyrosine kinase that is in Phase I trial for patients with B-cell malignancies refractory to other therapeutic options; and miransertib (ARQ 092), a potent and selective inhibitor of the protein kinase B (AKT), a serine/threonine kinase, which is in Phase Ib in combination with the hormonal therapy and anastrozole in patients with advanced endometrial cancer.

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Analyst Recommendations for ArQule (NASDAQ:ARQL)

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