Zacks Investment Research lowered shares of ArQule Inc. (NASDAQ:ARQL) from a buy rating to a hold rating in a research report released 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. “

ArQule (NASDAQ:ARQL) remained flat at $1.71 during trading on Tuesday. The stock had a trading volume of 6,812 shares. ArQule has a one year low of $1.37 and a one year high of $2.65. The company’s 50 day moving average price is $1.55 and its 200-day moving average price is $1.64. The firm’s market capitalization is $121.59 million.

ArQule (NASDAQ:ARQL) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.01. ArQule had a negative net margin of 197.25% and a negative return on equity of 44.89%. The company had revenue of $1.07 million for the quarter, compared to the consensus estimate of $1.13 million. During the same period last year, the company earned ($0.06) earnings per share. The firm’s revenue was down 64.3% compared to the same quarter last year. Equities analysts forecast that ArQule will post ($0.33) EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. Sabby Management LLC bought a new position in ArQule during the first quarter valued at approximately $160,000. Bank of New York Mellon Corp increased its position in ArQule by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 87,710 shares of the company’s stock valued at $167,000 after buying an additional 2,160 shares in the last quarter. Algert Global LLC increased its position in ArQule by 13.6% in the first quarter. Algert Global LLC now owns 136,080 shares of the company’s stock valued at $218,000 after buying an additional 16,290 shares in the last quarter. BlackRock Fund Advisors increased its position in ArQule by 11.3% in the second quarter. BlackRock Fund Advisors now owns 162,541 shares of the company’s stock valued at $309,000 after buying an additional 16,467 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in ArQule by 5.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 277,729 shares of the company’s stock valued at $444,000 after buying an additional 13,979 shares in the last quarter. Hedge funds and other institutional investors own 58.16% 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.

5 Day Chart for NASDAQ:ARQL

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