ArQule, Inc. (ARQL) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of ArQule, Inc. (NASDAQ:ARQL) from a buy rating to a hold rating in a report issued on Friday morning.
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 1.07 on Friday. The company’s market cap is $76.15 million. The company’s 50 day moving average is $1.15 and its 200 day moving average is $1.15. ArQule has a 12-month low of $0.92 and a 12-month high of $1.82.
ArQule (NASDAQ:ARQL) last announced its quarterly earnings data on Friday, August 4th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. ArQule had a negative return on equity of 135.68% and a negative net margin of 482.44%. During the same period last year, the company posted ($0.07) EPS. Analysts forecast that ArQule will post ($0.43) earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: “ArQule, Inc. (ARQL) Cut to “Hold” at Zacks Investment Research” was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/08/28/arqule-inc-arql-cut-to-hold-at-zacks-investment-research.html.
A hedge fund recently raised its stake in ArQule stock. Northern Trust Corp increased its position in ArQule, Inc. (NASDAQ:ARQL) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 154,513 shares of the biotechnology company’s stock after buying an additional 1,385 shares during the period. Northern Trust Corp owned 0.22% of ArQule worth $192,000 as of its most recent filing with the SEC. Institutional investors own 60.95% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for ArQule Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArQule Inc. and related stocks with our FREE daily email newsletter.