ArQule (NASDAQ:ARQL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports.

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. “

Several other analysts also recently weighed in on the company. Royal Bank of Canada cut their price target on from GBX 845 ($11.04) to GBX 800 ($10.45) and set an “outperform” rating on the stock in a research note on Wednesday, June 19th. Leerink Swann set a $27.00 price target on Kura Oncology and gave the company a “buy” rating in a report on Saturday, June 15th. Oppenheimer set a $13.00 target price on ArQule and gave the stock a “buy” rating in a report on Thursday, July 11th. BidaskClub raised Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Finally, Roth Capital set a $12.00 price objective on Callon Petroleum and gave the company a “buy” rating in a research report on Friday, June 14th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $12.17.

Shares of NASDAQ ARQL traded down $0.09 during midday trading on Monday, reaching $10.31. The company had a trading volume of 995,722 shares, compared to its average volume of 2,165,172. ArQule has a one year low of $2.23 and a one year high of $12.22. The company has a debt-to-equity ratio of 0.17, a quick ratio of 6.45 and a current ratio of 6.45. The company’s fifty day simple moving average is $9.97. The company has a market cap of $1.13 billion, a PE ratio of -64.44 and a beta of 2.27.

ArQule (NASDAQ:ARQL) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). ArQule had a negative net margin of 83.15% and a negative return on equity of 28.90%. The business had revenue of $1.35 million for the quarter, compared to the consensus estimate of $1.70 million. As a group, research analysts anticipate that ArQule will post -0.38 earnings per share for the current fiscal year.

In other news, Director Ran Nussbaum acquired 307,692 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was purchased at an average price of $9.75 per share, for a total transaction of $2,999,997.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 13.80% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California Public Employees Retirement System boosted its holdings in shares of ArQule by 89.4% in the 4th quarter. California Public Employees Retirement System now owns 393,051 shares of the biotechnology company’s stock worth $1,089,000 after purchasing an additional 185,551 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of ArQule by 38.1% in the 4th quarter. New York State Common Retirement Fund now owns 106,300 shares of the biotechnology company’s stock valued at $294,000 after acquiring an additional 29,300 shares during the last quarter. BlackRock Inc. lifted its stake in shares of ArQule by 26.6% in the 4th quarter. BlackRock Inc. now owns 8,618,012 shares of the biotechnology company’s stock valued at $23,872,000 after acquiring an additional 1,808,657 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of ArQule by 25.6% in the 4th quarter. Bank of New York Mellon Corp now owns 398,005 shares of the biotechnology company’s stock valued at $1,102,000 after acquiring an additional 81,244 shares during the last quarter. Finally, Great West Life Assurance Co. Can bought a new stake in shares of ArQule in the 4th quarter valued at about $41,000. Institutional investors own 71.98% of the company’s stock.

ArQule Company Profile

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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