Roth Capital Maintains a Buy Rating on Arqule (ARQL)


Roth Capital analyst Jotin Marango maintained a Buy rating on Arqule (NASDAQ: ARQL) today and set a price target of $7. The company’s shares closed yesterday at $4.70.

According to TipRanks.com, Marango is a 3-star analyst with an average return of 2.7% and a 35.2% success rate. Marango covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, Stemline Therapeutics Inc, and Cyclacel Pharmaceuticals.

Currently, the analyst consensus on Arqule is a Strong Buy with an average price target of $6.92, representing a 47.2% upside. In a report released today, Oppenheimer also assigned a Buy rating to the stock with a $7 price target.

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Based on Arqule’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $5.16 million. In comparison, last year the company had a GAAP net loss of $6.67 million.

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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.

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