ArQule, Inc. (ARQL) Downgraded by Zacks Investment Research to “Hold”

ArQule, Inc. (NASDAQ:ARQL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

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 research report on Friday, September 1st.

Shares of ArQule (NASDAQ ARQL) traded down 4.46% during trading on Tuesday, hitting $1.07. 98,149 shares of the stock traded hands. The stock has a 50-day moving average of $1.12 and a 200 day moving average of $1.12. ArQule has a 1-year low of $0.92 and a 1-year high of $1.68. The company’s market cap is $76.15 million.

ArQule (NASDAQ:ARQL) last released its quarterly earnings data on Friday, August 4th. The biotechnology company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. During the same quarter in the prior year, the business earned ($0.07) earnings per share. On average, equities research analysts predict that ArQule will post ($0.43) EPS for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in the business. Northern Trust Corp lifted its position in ArQule by 0.9% during the second quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock valued at $192,000 after purchasing an additional 1,385 shares during the last quarter. Curbstone Financial Management Corp lifted its position in ArQule by 100.0% during the third quarter. Curbstone Financial Management Corp now owns 104,572 shares of the biotechnology company’s stock valued at $116,000 after purchasing an additional 52,286 shares during the last quarter. Finally, First Eagl

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 research report on Friday, September 1st.

Shares of ArQule (NASDAQ ARQL) traded down 4.46% during trading on Tuesday, hitting $1.07. 98,149 shares of the stock traded hands. The stock has a 50-day moving average of $1.12 and a 200 day moving average of $1.12. ArQule has a 1-year low of $0.92 and a 1-year high of $1.68. The company’s market cap is $76.15 million.

ArQule (NASDAQ:ARQL) last released its quarterly earnings data on Friday, August 4th. The biotechnology company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. During the same quarter in the prior year, the business earned ($0.07) earnings per share. On average, equities research analysts predict that ArQule will post ($0.43) EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This article was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another website, it was stolen and reposted in violation of international trademark and copyright laws. The correct version of this article can be accessed at https://ledgergazette.com/2017/10/10/arqule-inc-arql-downgraded-by-zacks-investment-research-to-hold.html.

A number of institutional investors have recently made changes to their positions in the business. Northern Trust Corp lifted its position in ArQule by 0.9% during the second quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock valued at $192,000 after purchasing an additional 1,385 shares during the last quarter. Curbstone Financial Management Corp lifted its position in ArQule by 100.0% during the third quarter. Curbstone Financial Management Corp now owns 104,572 shares of the biotechnology company’s stock valued at $116,000 after purchasing an additional 52,286 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in ArQule by 8.6% during the second quarter. First Eagle Investment Management LLC now owns 11,847,575 shares of the biotechnology company’s stock valued at $14,691,000 after purchasing an additional 934,842 shares during the last quarter. Institutional investors and hedge funds own 61.03% of the company’s stock.

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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