ArQule, Inc. (NASDAQ:ARQL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $1.25 target price on the biotechnology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 5.93% from the company’s current price.

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 shares of ArQule from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st.

ArQule (NASDAQ:ARQL) traded down 0.85% during mid-day trading on Friday, hitting $1.17. 73,848 shares of the company were exchanged. ArQule has a 12-month low of $0.92 and a 12-month high of $1.82. The stock’s market cap is $83.27 million. The company has a 50 day moving average of $1.11 and a 200 day moving average of $1.14.

ArQule (NASDAQ:ARQL) last announced its quarterly earnings results on Friday, August 4th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the business posted ($0.07) EPS. On average, equities research analysts expect that ArQule will post ($0.43) earnings per share for the current fiscal year.

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An institutional investor recently raised its position in ArQule stock. First Eagle Investment Management LLC grew its holdings in ArQule, Inc. (NASDAQ:ARQL) by 8.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,847,575 shares of the biotechnology company’s stock after purchasing an additional 934,842 shares during the period. First Eagle Investment Management LLC owned about 16.65% of ArQule worth $14,691,000 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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