Zacks Investment Research Downgrades ArQule (ARQL) to Hold

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Zacks Investment Research downgraded shares of ArQule (NASDAQ:ARQL) from a buy rating to a hold rating in a research report report published on Friday morning.

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. “

Other equities research analysts also recently issued research reports about the company. Oppenheimer set a $7.00 target price on ArQule and gave the company a buy rating in a report on Thursday, November 29th. ValuEngine raised ArQule from a hold rating to a buy rating in a report on Thursday, December 27th. Roth Capital set a $7.00 target price on ArQule and gave the company a buy rating in a report on Thursday, November 1st. BidaskClub raised ArQule from a sell rating to a hold rating in a report on Saturday, January 5th. Finally, B. Riley set a $7.00 target price on ArQule and gave the company a buy rating in a report on Friday, November 2nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $6.40.

Shares of ARQL stock opened at $3.47 on Friday. ArQule has a fifty-two week low of $1.46 and a fifty-two week high of $7.21. The company has a quick ratio of 9.60, a current ratio of 9.60 and a debt-to-equity ratio of 0.16.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARQL. Bank of New York Mellon Corp boosted its holdings in shares of ArQule by 405.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 239,720 shares of the biotechnology company’s stock valued at $1,326,000 after acquiring an additional 192,324 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of ArQule by 770.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 182,700 shares of the biotechnology company’s stock valued at $1,011,000 after acquiring an additional 161,700 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of ArQule by 156.6% during the 2nd quarter. BlackRock Inc. now owns 5,389,833 shares of the biotechnology company’s stock valued at $29,806,000 after acquiring an additional 3,289,226 shares in the last quarter. Voya Investment Management LLC acquired a new stake in shares of ArQule during the 2nd quarter valued at $184,000. Finally, Northern Trust Corp boosted its holdings in shares of ArQule by 538.3% during the 2nd quarter. Northern Trust Corp now owns 951,591 shares of the biotechnology company’s stock valued at $5,262,000 after acquiring an additional 802,504 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors.

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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