Zacks Investment Research downgraded shares of ArQule, Inc. (NASDAQ:ARQL) from a hold rating to a sell rating in a research note issued to investors on Thursday, May 4th.
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) traded up 3.28% during trading on Thursday, hitting $1.26. 351,007 shares of the company were exchanged. ArQule has a 12 month low of $0.92 and a 12 month high of $2.17. The stock’s market cap is $89.64 million. The company’s 50-day moving average price is $1.01 and its 200 day moving average price is $1.26.
ArQule (NASDAQ:ARQL) last posted its quarterly earnings results on Wednesday, May 3rd. The biotechnology company reported ($0.11) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.11). ArQule had a negative return on equity of 55.62% and a negative net margin of 296.69%. During the same period in the prior year, the firm earned ($0.08) earnings per share. On average, equities analysts predict that ArQule will post ($0.44) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of ARQL. Geode Capital Management LLC increased its position in ArQule by 0.4% in the first quarter. Geode Capital Management LLC now owns 323,680 shares of the biotechnology company’s stock worth $343,000 after buying an additional 1,152 shares during the period. Renaissance Technologies LLC increased its position in 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 buying an additional 26,900 shares during the period. Vanguard Group Inc. increased its position in ArQule by 1.5% in the first quarter. Vanguard Group Inc. now owns 3,021,618 shares of the biotechnology company’s stock worth $3,203,000 after buying an additional 45,924 shares during the period. Finally, Nantahala Capital Management LLC boosted its position in 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 buying an additional 298,996 shares in the last quarter. 58.99% of the stock is owned by institutional investors and hedge funds.
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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