ArQule, Inc. (NASDAQ:ARQL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage currently has a $1.50 price objective on the biotechnology company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.78% from the company’s current price.
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 shares of ArQule from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st.
ArQule (NASDAQ:ARQL) traded up $0.02 during trading on Wednesday, hitting $1.33. 428,400 shares of the stock were exchanged, compared to its average volume of 197,955. ArQule has a 1 year low of $0.92 and a 1 year high of $1.68. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 2.33.
ArQule (NASDAQ:ARQL) last released its earnings results on Thursday, November 9th. The biotechnology company reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.02. During the same quarter in the prior year, the company earned ($0.08) EPS. equities analysts expect that ArQule will post -0.39 EPS for the current fiscal year.
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Several hedge funds have recently made changes to their positions in ARQL. Curbstone Financial Management Corp lifted its stake in shares of ArQule by 100.0% during 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 in the last quarter. Northern Trust Corp lifted its stake in shares of ArQule by 0.9% during 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 in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of ArQule during the 3rd quarter valued at approximately $2,220,000. Finally, First Eagle Investment Management LLC lifted its stake in shares of ArQule by 5.0% during 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 in the last quarter. 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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