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

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ArQule (NASDAQ:ARQL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm currently has a $4.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price target points to a potential upside of 17.99% from the stock’s previous close.

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. “

ARQL has been the subject of several other reports. Oppenheimer set a $7.00 target price on shares of ArQule and gave the company a “buy” rating in a research report on Thursday, November 29th. ValuEngine upgraded shares of ArQule from a “hold” rating to a “buy” rating in a research report on Thursday, December 27th. Roth Capital set a $7.00 target price on shares of ArQule and gave the company a “buy” rating in a research report on Thursday, November 1st. BidaskClub upgraded shares of ArQule from a “sell” rating to a “hold” rating in a research report on Saturday, January 5th. Finally, B. Riley set a $7.00 target price on shares of ArQule and gave the company a “buy” rating in a research report on Friday, November 2nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $6.40.

NASDAQ ARQL traded down $0.14 during trading on Thursday, reaching $3.39. The company’s stock had a trading volume of 458,007 shares, compared to its average volume of 911,531. The company has a quick ratio of 9.60, a current ratio of 9.60 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $384.74 million, a P/E ratio of -8.69 and a beta of 2.14. ArQule has a 12 month low of $1.46 and a 12 month high of $7.21.

A number of hedge funds have recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC increased its position in ArQule by 6.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 16,081,128 shares of the biotechnology company’s stock worth $91,019,000 after purchasing an additional 1,000,000 shares in the last quarter. BlackRock Inc. increased its position in ArQule by 26.3% in the 3rd quarter. BlackRock Inc. now owns 6,809,355 shares of the biotechnology company’s stock valued at $38,540,000 after acquiring an additional 1,419,522 shares during the period. Vanguard Group Inc. increased its position in ArQule by 59.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,991,497 shares of the biotechnology company’s stock valued at $33,912,000 after acquiring an additional 2,245,325 shares during the period. Vanguard Group Inc increased its position in ArQule by 59.9% in the 3rd quarter. Vanguard Group Inc now owns 5,991,497 shares of the biotechnology company’s stock valued at $33,912,000 after acquiring an additional 2,245,325 shares during the period. Finally, Sphera Funds Management LTD. increased its position in ArQule by 33.9% in the 3rd quarter. Sphera Funds Management LTD. now owns 2,005,243 shares of the biotechnology company’s stock valued at $11,350,000 after acquiring an additional 507,560 shares during the period. Institutional investors and hedge funds own 78.26% 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. It offers Derazantinib (ARQ 087), a multi-kinase inhibitor of the fibroblast growth factor receptor (FGFR) family that is in a registration trial in intrahepatic cholangiocarcinoma with FGFR2 fusions.

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