Alps Advisors Inc. boosted its holdings in ArQule, Inc. (NASDAQ:ARQL) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 239,756 shares of the biotechnology company’s stock after purchasing an additional 10,968 shares during the quarter. Alps Advisors Inc. owned approximately 0.20% of ArQule worth $1,719,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Tibra Equities Europe Ltd acquired a new position in shares of ArQule during the third quarter worth approximately $249,000. Russell Investments Group Ltd. acquired a new position in shares of ArQule during the third quarter worth approximately $140,000. California Public Employees Retirement System lifted its holdings in shares of ArQule by 10.9% during the third quarter. California Public Employees Retirement System now owns 236,797 shares of the biotechnology company’s stock worth $1,698,000 after buying an additional 23,343 shares during the last quarter. Requisite Capital Management LLC acquired a new position in shares of ArQule in the third quarter valued at $72,000. Finally, Rhumbline Advisers raised its stake in shares of ArQule by 4.4% in the third quarter. Rhumbline Advisers now owns 148,825 shares of the biotechnology company’s stock valued at $1,067,000 after purchasing an additional 6,229 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ ARQL opened at $7.66 on Friday. ArQule, Inc. has a one year low of $2.23 and a one year high of $12.22. The business has a fifty day simple moving average of $8.64 and a 200 day simple moving average of $8.65. The company has a current ratio of 8.27, a quick ratio of 8.27 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -47.88 and a beta of 2.31.
ArQule (NASDAQ:ARQL) last released its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). ArQule had a negative net margin of 805.61% and a negative return on equity of 33.10%. The company had revenue of $0.21 million during the quarter, compared to analyst estimates of $1.20 million. During the same period in the previous year, the company posted ($0.05) EPS. On average, research analysts anticipate that ArQule, Inc. will post -0.37 earnings per share for the current fiscal year.
A number of brokerages recently commented on ARQL. HC Wainwright began coverage on ArQule in a research note on Monday, September 16th. They issued a “buy” rating and a $13.00 target price for the company. Wolfe Research began coverage on ArQule in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $17.00 target price for the company. Cantor Fitzgerald began coverage on ArQule in a research note on Thursday, October 17th. They issued an “overweight” rating and a $16.00 target price for the company. Royal Bank of Canada set a $12.00 target price on ArQule and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, ValuEngine upgraded ArQule from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. ArQule has a consensus rating of “Buy” and a consensus price target of $13.11.
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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