Zacks Investment Research upgraded shares of ArQule, Inc. (NASDAQ:ARQL) from a hold rating to a buy rating in a research report sent to investors on Friday, September 8th. The firm currently has $1.25 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 cut ArQule from a sell rating to a strong sell rating in a report on Friday, September 1st.
Shares of ArQule (ARQL) opened at 1.19 on Friday. ArQule has a 12-month low of $0.92 and a 12-month high of $1.82. The company’s 50-day moving average price is $1.09 and its 200 day moving average price is $1.13. The stock’s market cap is $84.69 million.
ArQule (NASDAQ:ARQL) last released its quarterly earnings results on Friday, August 4th. The biotechnology company reported ($0.10) earnings per share 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 quarter in the prior year, the business earned ($0.07) earnings per share. On average, equities analysts predict that ArQule will post ($0.43) earnings per share for the current year.
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An institutional investor recently raised its position in ArQule stock. Northern Trust Corp grew its stake in shares of ArQule, Inc. (NASDAQ:ARQL) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 154,513 shares of the biotechnology company’s stock after purchasing an additional 1,385 shares during the quarter. Northern Trust Corp owned 0.22% of ArQule worth $192,000 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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