Why Did B.Riley FBR Downgrade Arqule’s Stock?


B.Riley FBR analyst Mayank Mamtani downgraded Arqule (ARQL) to Hold today and set a price target of $20.00. The company’s shares closed last Monday at $19.70, close to its 52-week high of $19.72.

According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 27.8% and a 45.8% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Allena Pharmaceuticals, and NGM Biopharmaceuticals.

Arqule has an analyst consensus of Strong Buy, with a price target consensus of $14.71.

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The company has a one-year high of $19.72 and a one-year low of $2.23. Currently, Arqule has an average volume of 2.28M.

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. Most recently, in September 2019, Patrick Zenner, a Director at ARQL bought 25,000 shares for a total of $153,500.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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