ArQule, Inc. (NASDAQ:ARQL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $1.00 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price target would indicate a potential downside of 2.91% 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. “
ArQule (NASDAQ:ARQL) opened at 1.03 on Thursday. The company’s market capitalization is $73.28 million. ArQule has a one year low of $0.92 and a one year high of $1.82. The company’s 50-day moving average is $1.21 and its 200 day moving average is $1.19.
ArQule (NASDAQ:ARQL) last announced its quarterly earnings data on Friday, August 4th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. ArQule had a negative net margin of 482.44% and a negative return on equity of 135.68%. During the same quarter in the prior year, the business earned ($0.07) EPS. Analysts predict that ArQule will post ($0.43) EPS for the current year.
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A number of large investors have recently made changes to their positions in ARQL. Northern Trust Corp increased its stake in shares of ArQule by 0.9% in the second quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock worth $192,000 after buying an additional 1,385 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of ArQule by 1.4% in the fourth quarter. Renaissance Technologies LLC now owns 2,017,600 shares of the biotechnology company’s stock worth $2,542,000 after buying an additional 26,900 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of ArQule by 8.6% in the second quarter. First Eagle Investment Management LLC now owns 11,847,575 shares of the biotechnology company’s stock worth $14,691,000 after buying an additional 934,842 shares during the last quarter. Hedge funds and other institutional investors own 60.41% 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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