ArQule (ARQL) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of ArQule (NASDAQ:ARQL) from a buy rating to a hold rating in a research note issued to investors on Tuesday 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. “

Several other analysts have also recently commented on ARQL. ValuEngine upgraded ArQule from a buy rating to a strong-buy rating in a report on Tuesday, June 26th. B. Riley raised their price target on ArQule from $4.00 to $7.50 and gave the company a buy rating in a report on Friday, June 29th. BidaskClub cut ArQule from a strong-buy rating to a buy rating in a report on Thursday, July 12th. Oppenheimer assumed coverage on ArQule in a report on Tuesday, June 12th. They issued an outperform rating and a $7.00 price target on the stock. Finally, Needham & Company LLC raised their price target on ArQule from $6.00 to $7.00 and gave the company a buy rating in a report on Monday, June 18th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. ArQule presently has a consensus rating of Buy and an average price target of $6.65.

Shares of ARQL stock opened at $4.42 on Tuesday. The company has a current ratio of 5.99, a quick ratio of 5.99 and a debt-to-equity ratio of 0.54. The firm has a market cap of $615.90 million, a PE ratio of -11.33 and a beta of 1.15. ArQule has a 52 week low of $0.97 and a 52 week high of $7.21.

ArQule (NASDAQ:ARQL) last announced its earnings results on Wednesday, August 1st. The biotechnology company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The business had revenue of $13.71 million for the quarter, compared to the consensus estimate of $7.70 million. During the same quarter in the previous year, the company posted ($0.12) EPS. As a group, equities analysts predict that ArQule will post -0.12 EPS for the current year.

A number of institutional investors have recently bought and sold shares of ARQL. JPMorgan Chase & Co. boosted its holdings in ArQule by 100.0% in the first quarter. JPMorgan Chase & Co. now owns 240,268 shares of the biotechnology company’s stock valued at $692,000 after acquiring an additional 120,109 shares during the last quarter. Element Capital Management LLC bought a new position in ArQule in the first quarter valued at about $225,000. Jane Street Group LLC bought a new position in ArQule in the first quarter valued at about $100,000. Millennium Management LLC boosted its holdings in ArQule by 1,631.7% in the first quarter. Millennium Management LLC now owns 1,726,984 shares of the biotechnology company’s stock valued at $4,974,000 after acquiring an additional 1,627,259 shares during the last quarter. Finally, Handelsbanken Fonder AB bought a new position in ArQule in the second quarter valued at about $3,871,000. Institutional investors and hedge funds own 65.09% of the company’s stock.

ArQule Company Profile

ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. It offers Derazantinib (ARQ 087), a multi-kinase inhibitor of the fibroblast growth factor receptor (FGFR) family that is in a registration trial in intrahepatic cholangiocarcinoma with FGFR2 fusions.

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