ArQule Inc. (NASDAQ:ARQL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
Shares of ArQule (NASDAQ:ARQL) opened at 1.71 on Tuesday. ArQule has a 52 week low of $1.37 and a 52 week high of $2.65. The stock’s 50 day moving average price is $1.56 and its 200 day moving average price is $1.64. The firm’s market capitalization is $121.59 million.
ArQule (NASDAQ:ARQL) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The company earned $1.07 million during the quarter, compared to analyst estimates of $1.13 million. ArQule had a negative net margin of 197.25% and a negative return on equity of 44.89%. The company’s revenue for the quarter was down 64.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) EPS. On average, analysts predict that ArQule will post ($0.33) EPS for the current fiscal year.
Several large investors have recently modified their holdings of ARQL. Algert Global LLC raised its stake in shares of ArQule by 13.6% in the first quarter. Algert Global LLC now owns 136,080 shares of the company’s stock worth $218,000 after buying an additional 16,290 shares during the period. Sabby Management LLC bought a new stake in shares of ArQule during the first quarter worth about $160,000. Jacobs Levy Equity Management Inc. raised its stake in shares of ArQule by 5.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 277,729 shares of the company’s stock worth $444,000 after buying an additional 13,979 shares during the period. BVF Inc. IL raised its stake in shares of ArQule by 15.9% in the first quarter. BVF Inc. IL now owns 7,893,324 shares of the company’s stock worth $12,629,000 after buying an additional 1,083,481 shares during the period. Finally, Nantahala Capital Management LLC raised its stake in shares of ArQule by 44.6% in the first quarter. Nantahala Capital Management LLC now owns 8,543,652 shares of the company’s stock worth $13,670,000 after buying an additional 2,635,530 shares during the period. 58.16% of the stock is owned by institutional investors.
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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