ArQule (ARQL) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of ArQule (NASDAQ:ARQL) from a hold rating to a buy rating in a report issued on Monday morning. Zacks Investment Research currently has $5.75 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. “

ARQL has been the subject of a number of other reports. Roth Capital reaffirmed a buy rating and set a $8.00 price target on shares of ArQule in a report on Thursday, March 7th. BidaskClub cut ArQule from a hold rating to a sell rating in a report on Friday, February 15th. ValuEngine raised ArQule from a hold rating to a buy rating in a report on Thursday, December 27th. Oppenheimer set a $8.00 price target on ArQule and gave the company a buy rating in a report on Thursday, March 7th. Finally, B. Riley set a $7.00 price target on ArQule and gave the company a buy rating in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $7.15.

ARQL stock opened at $5.14 on Monday. ArQule has a fifty-two week low of $1.80 and a fifty-two week high of $7.21. The company has a quick ratio of 7.28, a current ratio of 7.28 and a debt-to-equity ratio of 0.17.

ArQule (NASDAQ:ARQL) last released its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.08). ArQule had a negative return on equity of 30.51% and a negative net margin of 60.09%. The firm had revenue of $2.94 million during the quarter, compared to analysts’ expectations of $1.81 million. On average, analysts expect that ArQule will post -0.37 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARQL. Vanguard Group Inc. increased its stake in shares of ArQule by 59.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,991,497 shares of the biotechnology company’s stock valued at $33,912,000 after buying an additional 2,245,325 shares during the period. Vanguard Group Inc increased its stake in shares of ArQule by 59.9% in the 3rd quarter. Vanguard Group Inc now owns 5,991,497 shares of the biotechnology company’s stock valued at $33,912,000 after buying an additional 2,245,325 shares during the period. Marshall Wace North America L.P. increased its stake in shares of ArQule by 6,042.5% in the 3rd quarter. Marshall Wace North America L.P. now owns 1,912,772 shares of the biotechnology company’s stock valued at $10,826,000 after buying an additional 1,881,632 shares during the period. BlackRock Inc. increased its stake in shares of ArQule by 26.6% in the 4th quarter. BlackRock Inc. now owns 8,618,012 shares of the biotechnology company’s stock valued at $23,872,000 after buying an additional 1,808,657 shares during the period. Finally, Nexthera Capital LP acquired a new stake in shares of ArQule in the 3rd quarter valued at $9,834,000. 73.29% of the stock is owned by institutional investors.

ArQule Company Profile

ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. The company's pipeline includes ARQ 531, an orally bioavailable, potent and reversible dual inhibitor of wild type and C481S-mutant Bruton's tyrosine kinase that is in Phase I trial for patients with B-cell malignancies refractory to other therapeutic options; and miransertib (ARQ 092), a potent and selective inhibitor of the protein kinase B (AKT), a serine/threonine kinase, which is in Phase Ib in combination with the hormonal therapy and anastrozole in patients with advanced endometrial cancer.

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