ArQule (ARQL) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of ArQule (NASDAQ:ARQL) from a hold rating to a buy rating in a research note published on Monday. Zacks Investment Research currently has $5.75 price target on the biotechnology company’s stock.

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 brokerages also recently issued reports on ARQL. ValuEngine upgraded ArQule from a buy rating to a strong-buy rating in a research report on Thursday, March 7th. Roth Capital set a $8.00 price target on ArQule and gave the company a buy rating in a research report on Thursday, March 7th. Oppenheimer set a $8.00 price target on ArQule and gave the company a buy rating in a research report on Thursday, March 7th. B. Riley set a $7.00 price target on ArQule and gave the company a buy rating in a research report on Friday, March 8th. Finally, BidaskClub upgraded ArQule from a sell rating to a hold rating in a research report on Saturday, December 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. ArQule has an average rating of Buy and a consensus target price of $7.15.

Shares of ARQL stock opened at $4.86 on Monday. The company has a current ratio of 7.28, a quick ratio of 7.28 and a debt-to-equity ratio of 0.17. ArQule has a 52-week low of $1.82 and a 52-week high of $7.21. The firm has a market capitalization of $560.26 million, a P/E ratio of -30.38 and a beta of 2.14.

ArQule (NASDAQ:ARQL) last issued its quarterly earnings data on Thursday, March 7th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.08). ArQule had a negative return on equity of 30.51% and a negative net margin of 60.09%. The company had revenue of $2.94 million for the quarter, compared to the consensus estimate of $1.81 million. On average, analysts predict that ArQule will post -0.37 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in ArQule during the fourth quarter valued at about $28,000. Two Sigma Securities LLC purchased a new stake in ArQule during the fourth quarter valued at about $30,000. Dimensional Fund Advisors LP purchased a new stake in ArQule during the fourth quarter valued at about $32,000. Jane Street Group LLC purchased a new stake in ArQule during the fourth quarter valued at about $33,000. Finally, Amalgamated Bank purchased a new stake in ArQule during the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 73.29% of the company’s stock.

About ArQule

ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. The company's pipeline includes ARQ 531, an orally bioavailable, potent and reversible dual inhibitor of wild type and C481S-mutant Bruton's tyrosine kinase that is in Phase I trial for patients with B-cell malignancies refractory to other therapeutic options; and miransertib (ARQ 092), a potent and selective inhibitor of the protein kinase B (AKT), a serine/threonine kinase, which is in Phase Ib in combination with the hormonal therapy and anastrozole in patients with advanced endometrial cancer.

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