ArQule, Inc. (NASDAQ:ARQL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research 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 target indicates a potential upside of 10.13% 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 ArQule from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st.

Shares of ArQule (NASDAQ ARQL) traded up 5.31% on Friday, reaching $1.19. The company’s stock had a trading volume of 422,221 shares. The company’s market capitalization is $84.69 million. The company’s 50-day moving average is $1.09 and its 200 day moving average is $1.13. ArQule has a 12-month low of $0.92 and a 12-month high of $1.82.

ArQule (NASDAQ:ARQL) last issued its quarterly earnings results on Friday, August 4th. The biotechnology company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates 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 earned ($0.07) earnings per share. Equities analysts anticipate that ArQule will post ($0.43) earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp boosted its stake in shares of ArQule by 0.9% in the second quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock worth $192,000 after acquiring an additional 1,385 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of ArQule by 8.6% in the second quarter. First Eagle Investment Management LLC now owns 11,847,575 shares of the biotechnology company’s stock worth $14,691,000 after acquiring an additional 934,842 shares during the period. Renaissance Technologies LLC boosted its stake in shares of ArQule by 1.4% in the fourth quarter. Renaissance Technologies LLC now owns 2,017,600 shares of the biotechnology company’s stock worth $2,542,000 after acquiring an additional 26,900 shares during the period. Nantahala Capital Management LLC boosted its stake in shares of ArQule by 3.3% in the third quarter. Nantahala Capital Management LLC now owns 9,263,041 shares of the biotechnology company’s stock worth $16,303,000 after acquiring an additional 298,996 shares during the period. Finally, BVF Inc. IL boosted its stake in shares of ArQule by 15.9% in the first quarter. BVF Inc. IL now owns 7,893,324 shares of the biotechnology company’s stock worth $12,629,000 after acquiring an additional 1,083,481 shares during the period. Institutional investors and hedge funds 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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