Zacks Investment Research upgraded shares of ArQule, Inc. (NASDAQ:ARQL) from a hold rating to a buy rating in a research report released on Wednesday. They currently have $1.50 target price on the biotechnology company’s stock.
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 lowered shares of ArQule from a sell rating to a strong sell rating in a report on Friday, September 1st.
Shares of ArQule (ARQL) traded up $0.02 on Wednesday, reaching $1.31. 1,177,000 shares of the company traded hands, compared to its average volume of 196,913. ArQule has a 12-month low of $0.92 and a 12-month high of $1.68. The company has a debt-to-equity ratio of 2.33, a quick ratio of 3.45 and a current ratio of 3.45.
ArQule (NASDAQ:ARQL) last issued its quarterly earnings data on Thursday, November 9th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. During the same quarter in the previous year, the business earned ($0.08) earnings per share. analysts expect that ArQule will post -0.39 earnings per share for the current year.
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Institutional investors and hedge funds have recently modified their holdings of the stock. First Eagle Investment Management LLC raised its holdings in ArQule by 5.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 12,438,996 shares of the biotechnology company’s stock valued at $13,807,000 after buying an additional 591,421 shares during the period. Curbstone Financial Management Corp raised its holdings in ArQule by 100.0% in the 3rd quarter. Curbstone Financial Management Corp now owns 104,572 shares of the biotechnology company’s stock valued at $116,000 after buying an additional 52,286 shares during the period. Point72 Asset Management L.P. purchased a new stake in ArQule in the 3rd quarter valued at about $2,220,000. Finally, Northern Trust Corp raised its holdings in ArQule by 0.9% in the 2nd quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 1,385 shares during the period. Hedge funds and other institutional investors own 61.83% of the company’s stock.
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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