ArQule (ARQL) Stock Rating Lowered by Zacks Investment Research

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

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. “

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

ArQule (ARQL) traded down $0.01 during trading on Wednesday, hitting $1.75. The company’s stock had a trading volume of 198,300 shares, compared to its average volume of 359,833. The company has a market cap of $153.31, a P/E ratio of -4.38 and a beta of 1.38. ArQule has a 1-year low of $0.92 and a 1-year high of $1.98. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 2.33.

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

Several hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in shares of ArQule during the 3rd quarter valued at about $2,220,000. First Eagle Investment Management LLC lifted its position in shares of ArQule by 5.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 12,438,996 shares of the biotechnology company’s stock valued at $13,807,000 after buying an additional 591,421 shares in the last quarter. Curbstone Financial Management Corp lifted its position in shares of ArQule by 100.0% during the 3rd quarter. Curbstone Financial Management Corp now owns 104,572 shares of the biotechnology company’s stock valued at $116,000 after buying an additional 52,286 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of ArQule by 0.9% during the 2nd quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 1,385 shares in the last quarter. 52.12% of the stock is currently owned by hedge funds and other institutional investors.

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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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