Roth Capital analyst Jotin Marango maintained a Buy rating on Arqule (ARQL) yesterday and set a price target of $7. The company’s shares closed on Friday at $3.71.
“We remain high-conviction buyers, especially in light of the recent pullback in shares.”
According to TipRanks.com, Marango ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -9.4% and a 23.1% success rate. Marango covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, Stemline Therapeutics Inc, and Cyclacel Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Arqule with a $6.92 average price target, implying an 86.5% upside from current levels. In a report issued on November 29, Oppenheimer also assigned a Buy rating to the stock with a $7 price target.
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The company has a one-year high of $7.21 and a one-year low of $1.27. Currently, Arqule has an average volume of 1.17M.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ARQL in relation to earlier this year.
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ArQule, Inc. is a clinical-stage biopharmaceutical company, which engages in the research and development of targeted 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.