Zacks Investment Research downgraded shares of ArQule, Inc. (NASDAQ:ARQL) from a buy rating to a hold rating in a research note released on Thursday morning.
According to Zacks, “ArQule, Inc. is a biotechnology company engaged in the research and development of next-generation, small-molecule cancer therapeutics. The Company’s targeted, broad-spectrum products and research programs are focused on key biological processes that are central to cancer. ArQule’s lead clinical-stage products have been generated from two scientific platforms: Cancer Survival Protein modulation and Activated Checkpoint Therapy. The Cancer Survival Protein modulation platform has generated a clinical-stage product that mediates its effects by inhibiting the activity of a molecule known as c-Met, which plays multiple roles in cancer cell growth, survival, invasion, angiogenesis and metastasis. The ACT platform is designed to kill cancer cells selectively while sparing normal cells through direct activation of DNA damage response/checkpoint pathways. The Company’s lead ACT program, based on the E2F-1 pathway, is partnered with Roche. “
Separately, ValuEngine downgraded ArQule from a sell rating to a strong sell rating in a research note on Friday, September 1st.
Shares of ArQule (NASDAQ ARQL) opened at 1.19 on Thursday. ArQule has a 12 month low of $0.92 and a 12 month high of $1.82. The company’s market capitalization is $84.69 million. The stock’s 50 day moving average price is $1.09 and its 200 day moving average price is $1.13.
ArQule (NASDAQ:ARQL) last posted its quarterly earnings data on Friday, August 4th. The biotechnology company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. ArQule had a negative return on equity of 135.68% and a negative net margin of 482.44%. During the same period in the prior year, the company earned ($0.07) EPS. On average, analysts forecast that ArQule will post ($0.43) EPS for the current year.
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An institutional investor recently raised its position in ArQule stock. First Eagle Investment Management LLC boosted its holdings in shares of ArQule, Inc. (NASDAQ:ARQL) by 8.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,847,575 shares of the biotechnology company’s stock after purchasing an additional 934,842 shares during the quarter. First Eagle Investment Management LLC owned about 16.65% of ArQule worth $14,691,000 at the end of the most recent quarter. 60.95% of the stock is currently owned by institutional investors.
ArQule Company Profile
ArQule, Inc is a biopharmaceutical company. The Company is engaged in the research and development of therapeutics to treat cancers and rare diseases. These drugs focuses on the biological pathways implicated in a range of cancers and certain non-oncology indications. Its clinical-stage pipeline consists of over four drug candidates, all of which are in targeted patient populations.
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