ArQule, Inc. (NASDAQ:ARQL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, September 6th.
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 report on Friday, September 1st.
ArQule (ARQL) opened at 1.19 on Wednesday. The firm’s market capitalization is $84.69 million. ArQule has a 52-week low of $0.92 and a 52-week 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 announced its quarterly earnings results 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 return on equity of 135.68% and a negative net margin of 482.44%. During the same period in the previous year, the business posted ($0.07) earnings per share. Equities research analysts predict that ArQule will post ($0.43) earnings per share for the current year.
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An institutional investor recently raised its position in ArQule stock. Northern Trust Corp increased its position in ArQule, Inc. (NASDAQ:ARQL) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,513 shares of the biotechnology company’s stock after buying 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 reporting period. 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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