ArQule, Inc. (NASDAQ:ARQL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $1.25 price objective on the biotechnology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 5.04% from the company’s previous close.
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 shares of ArQule from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st.
ArQule (NASDAQ:ARQL) opened at 1.19 on Friday. ArQule has a 52 week low of $0.92 and a 52 week high of $1.82. The stock’s market capitalization is $84.69 million. The firm’s 50-day moving average is $1.09 and its 200-day moving average is $1.13.
ArQule (NASDAQ:ARQL) last issued its quarterly earnings data on Friday, August 4th. The biotechnology company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.01. ArQule had a negative net margin of 482.44% and a negative return on equity of 135.68%. During the same period in the previous year, the business posted ($0.07) EPS. On average, equities research analysts predict that ArQule will post ($0.43) EPS for the current fiscal year.
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An institutional investor recently raised its position in ArQule stock. Northern Trust Corp grew its position in shares of ArQule, Inc. (NASDAQ:ARQL) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 154,513 shares of the biotechnology company’s stock after purchasing an additional 1,385 shares during the period. Northern Trust Corp owned 0.22% of ArQule worth $192,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 60.95% 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.
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