ArQule, Inc. (NASDAQ:ARQL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $1.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective indicates a potential downside of 3.85% from the stock’s current price.

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. “

ArQule (NASDAQ:ARQL) traded up 4.00% during trading on Wednesday, hitting $1.04. The company’s stock had a trading volume of 27,141 shares. ArQule has a one year low of $0.92 and a one year high of $1.82. The firm’s market cap is $74.02 million. The company has a 50-day moving average of $1.18 and a 200 day moving average of $1.16.

ArQule (NASDAQ:ARQL) last posted its earnings results on Friday, August 4th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. ArQule had a negative net margin of 482.44% and a negative return on equity of 135.68%. During the same quarter last year, the business posted ($0.07) earnings per share. On average, equities analysts forecast that ArQule will post ($0.43) earnings per share for the current year.

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An institutional investor recently raised its position in ArQule stock. Northern Trust Corp increased its position in ArQule, Inc. (NASDAQ:ARQL) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 154,513 shares of the biotechnology company’s stock after buying an additional 1,385 shares during the period. Northern Trust Corp owned approximately 0.22% of ArQule worth $192,000 as of its most recent filing with the SEC. 61.70% of the stock is owned by institutional investors.

ArQule Company Profile

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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