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

Zacks Investment Research cut shares of ArQule (NASDAQ:ARQL) from a buy rating to a hold rating in a report published 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. “

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A number of other research analysts also recently weighed in on the company. B. Riley set a $4.00 price target on ArQule and gave the company a buy rating in a research note on Monday, March 26th. BidaskClub raised ArQule from a buy rating to a strong-buy rating in a research note on Saturday, March 24th. ValuEngine raised ArQule from a sell rating to a hold rating in a research note on Thursday, March 15th. Roth Capital initiated coverage on ArQule in a research note on Thursday, February 22nd. They set a buy rating and a $5.00 price objective on the stock. Finally, Needham & Company LLC raised ArQule from a hold rating to a buy rating in a research note on Thursday, December 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. ArQule presently has an average rating of Buy and a consensus price target of $4.08.

ARQL stock opened at $2.85 on Wednesday. The company has a quick ratio of 4.98, a current ratio of 4.98 and a debt-to-equity ratio of 1.03. ArQule has a twelve month low of $0.92 and a twelve month high of $3.35.

ArQule (NASDAQ:ARQL) last posted its quarterly earnings results on Monday, March 5th. The biotechnology company reported ($0.09) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.09). During the same period last year, the company posted ($0.10) earnings per share. sell-side analysts anticipate that ArQule will post -0.31 earnings per share for the current fiscal year.

In related news, insider Value Fund L. P. Biotechnology sold 2,301,581 shares of the firm’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $2.90, for a total transaction of $6,674,584.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 9.00% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Millennium Management LLC acquired a new stake in ArQule during the 4th quarter worth $165,000. Northern Trust Corp increased its holdings in ArQule by 0.9% during the 2nd quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock worth $192,000 after purchasing an additional 1,385 shares in the last quarter. Virtu Financial LLC increased its holdings in ArQule by 343.8% during the 4th quarter. Virtu Financial LLC now owns 129,038 shares of the biotechnology company’s stock worth $213,000 after purchasing an additional 99,964 shares in the last quarter. Deutsche Bank AG bought a new position in ArQule during the 4th quarter worth about $390,000. Finally, Point72 Asset Management L.P. bought a new position in ArQule during the 3rd quarter worth about $2,220,000. 67.08% of the stock is currently owned by institutional investors and hedge funds.

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About ArQule

ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. Its lead product candidate is tivantinib (ARQ 197), a small molecule inhibitor of the c-Met receptor tyrosine kinase and its biological pathway, which is in Phase III clinical trial for the treatment of liver cancer.

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