Zacks Investment Research upgraded shares of ArQule, Inc. (NASDAQ:ARQL) from a hold rating to a buy rating in a research report released on Wednesday morning. The brokerage currently has $1.50 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. “

Separately, ValuEngine downgraded ArQule from a sell rating to a strong sell rating in a research note on Friday, September 1st.

Shares of ArQule (NASDAQ ARQL) traded up $0.09 during trading on Wednesday, reaching $1.42. The company had a trading volume of 435,477 shares, compared to its average volume of 199,020. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.45 and a quick ratio of 3.45. ArQule has a 1 year low of $0.92 and a 1 year high of $1.68.

ArQule (NASDAQ:ARQL) last announced its quarterly earnings data on Thursday, November 9th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. During the same period in the previous year, the company earned ($0.08) earnings per share. research analysts forecast that ArQule will post -0.39 earnings per share for the current year.

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A number of institutional investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC lifted its stake in ArQule by 5.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 12,438,996 shares of the biotechnology company’s stock worth $13,807,000 after acquiring an additional 591,421 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of ArQule during the 3rd quarter worth about $2,220,000. Northern Trust Corp raised its stake in shares of ArQule by 0.9% during the 2nd quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock worth $192,000 after purchasing an additional 1,385 shares in the last quarter. Finally, Curbstone Financial Management Corp raised its stake in shares of ArQule by 100.0% during the 3rd quarter. Curbstone Financial Management Corp now owns 104,572 shares of the biotechnology company’s stock worth $116,000 after purchasing an additional 52,286 shares in the last quarter. 61.83% of the stock is owned by hedge funds and other institutional investors.

About ArQule

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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