After RBC Capital and Needham gave Arqule (NASDAQ: ARQL) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Edward White reiterated a Buy rating on Arqule today and set a price target of $13.00. The company’s shares closed last Monday at $7.99.
According to TipRanks.com, White is a 5-star analyst with an average return of 14.3% and a 48.8% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Karyopharm Therapeutics, and TRACON Pharmaceuticals.
Currently, the analyst consensus on Arqule is a Strong Buy with an average price target of $13.83, which is a 75.7% upside from current levels. In a report issued on November 5, Wolfe Research also initiated coverage with a Buy rating on the stock with a $17.00 price target.
The company has a one-year high of $12.22 and a one-year low of $2.23. Currently, Arqule has an average volume of 2.02M.
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.
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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.