Zacks Investment Research Upgrades ArQule, Inc. (ARQL) to Buy
ArQule, Inc. (NASDAQ:ARQL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm presently has a $1.25 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.61% 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 ArQule from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st.
ArQule (NASDAQ ARQL) opened at 1.11 on Thursday. The stock’s market cap is $79.00 million. ArQule has a 12 month low of $0.92 and a 12 month high of $1.82. The company’s 50-day moving average price is $1.09 and its 200-day moving average price is $1.13.
ArQule (NASDAQ:ARQL) last released its quarterly earnings results on Friday, August 4th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping 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 in the previous year, the company posted ($0.07) EPS. Equities analysts forecast that ArQule will post ($0.43) earnings per share for the current year.
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A hedge fund recently raised its stake in ArQule stock. First Eagle Investment Management LLC raised its stake in shares of ArQule, Inc. (NASDAQ:ARQL) by 8.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,847,575 shares of the biotechnology company’s stock after buying an additional 934,842 shares during the quarter. First Eagle Investment Management LLC owned about 16.65% of ArQule worth $14,691,000 at the end of the most recent reporting period. 60.95% of the stock is currently owned by institutional investors.
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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