ArQule (ARQL) Downgraded by Zacks Investment Research to Hold

ArQule (NASDAQ:ARQL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, January 10th.

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. “

Several other research firms have also issued reports on ARQL. ValuEngine raised shares of ArQule from a “strong sell” rating to a “sell” rating in a research report on Friday, November 17th. Needham & Company LLC raised shares of ArQule from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th.

ArQule (NASDAQ:ARQL) traded down $0.06 on Wednesday, hitting $1.56. 32,731 shares of the company were exchanged, compared to its average volume of 222,845. The company has a market capitalization of $144.60, a price-to-earnings ratio of -4.02 and a beta of 1.48. 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 one year low of $0.92 and a one year high of $1.98.

ArQule (NASDAQ:ARQL) last posted its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. During the same quarter in the prior year, the business posted ($0.08) earnings per share. analysts predict that ArQule will post -0.39 earnings per share for the current year.

A number of large investors have recently bought and sold shares of ARQL. Point72 Asset Management L.P. bought a new stake in ArQule during the 3rd quarter valued at $2,220,000. First Eagle Investment Management LLC raised its holdings 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 purchasing an additional 591,421 shares in the last quarter. Curbstone Financial Management Corp raised its holdings in ArQule by 100.0% in 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. Finally, Northern Trust Corp raised its holdings in ArQule by 0.9% in 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. Institutional investors own 52.06% of the company’s stock.

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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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