ArQule (NASDAQ:ARQL) Downgraded to “Neutral” at Cantor Fitzgerald

Cantor Fitzgerald downgraded shares of ArQule (NASDAQ:ARQL) from an overweight rating to a neutral rating in a research report sent to investors on Tuesday, Benzinga reports. Cantor Fitzgerald currently has $20.00 price objective on the biotechnology company’s stock, up from their previous price objective of $16.00.

A number of other brokerages have also recently commented on ARQL. ValuEngine cut shares of ArQule from a buy rating to a hold rating in a research note on Tuesday, December 3rd. Wolfe Research began coverage on shares of ArQule in a research note on Tuesday, November 5th. They set an outperform rating and a $17.00 price target for the company. Zacks Investment Research cut shares of ArQule from a buy rating to a hold rating in a research note on Thursday, October 31st. Needham & Company LLC cut shares of ArQule from a buy rating to a hold rating in a research note on Monday. Finally, B. Riley initiated coverage on shares of ArQule in a research note on Wednesday, November 27th. They set a buy rating and a $14.00 price target for the company. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $16.78.

Shares of ARQL opened at $19.99 on Tuesday. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -124.91 and a beta of 2.24. The company has a quick ratio of 8.27, a current ratio of 8.27 and a debt-to-equity ratio of 0.08. ArQule has a 12 month low of $2.23 and a 12 month high of $20.10. The company has a 50-day moving average price of $9.41 and a two-hundred day moving average price of $9.11.

ArQule (NASDAQ:ARQL) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The business had revenue of $0.21 million for the quarter, compared to the consensus estimate of $1.20 million. ArQule had a negative return on equity of 33.10% and a negative net margin of 805.61%. During the same quarter in the prior year, the business earned ($0.05) EPS. Equities research analysts expect that ArQule will post -0.37 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of ARQL. Victory Capital Management Inc. acquired a new stake in shares of ArQule during the second quarter worth approximately $26,000. Tower Research Capital LLC TRC acquired a new stake in shares of ArQule in the third quarter valued at approximately $50,000. Requisite Capital Management LLC acquired a new stake in ArQule during the 3rd quarter worth $72,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ArQule by 272.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,124 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 5,213 shares during the period. Finally, Bank of Montreal Can grew its holdings in ArQule by 53,511.8% during the 2nd quarter. Bank of Montreal Can now owns 9,114 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 9,097 shares during the period. 74.72% of the stock is owned by institutional investors.

About ArQule

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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