Today it was reported that a Director at Arqule (ARQL), Michael Loberg, exercised options to buy 10,000 ARQL shares at $3.87 a share, for a total transaction value of $38.7K. The options were close to expired and Michael Loberg retained stocks.
Following this transaction Michael Loberg’s holding in the company was increased by 6.15% to a total of $976.4K. Following Michael Loberg’s last ARQL Buy transaction on December 18, 2015, the stock climbed by 3.6%.
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Currently, Arqule has an average volume of 817.6K. The Company has a Price to Book ratio of 7.8128.
Starting in April 2018, ARQL received 23 Buy ratings in a row. Based on 5 analyst ratings, the analyst consensus is Strong Buy with an average price target of $7.69, reflecting a 31.0% upside. Five different firms, including Roth Capital and Needham, currently also have a Buy rating on the stock.
The insider sentiment on Arqule has been positive according to 15 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.
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ArQule, Inc. is a biopharmaceutical company, which engages in the research and development of therapeutics to treat cancers and rare diseases. The company discovers, develops and commercializes novel small molecule drugs in areas of unmet need that will dramatically extend and improve the lives of its patients.
