Zacks Investment Research downgraded shares of ArQule (NASDAQ:ARQL) from a buy rating to a hold rating in a research report sent to investors on Tuesday 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. “

A number of other equities research analysts have also commented on ARQL. ValuEngine raised ArQule from a buy rating to a strong-buy rating in a research report on Tuesday, June 26th. B. Riley raised their price target on ArQule from $4.00 to $7.50 and gave the stock a buy rating in a research report on Friday, June 29th. BidaskClub lowered ArQule from a strong-buy rating to a buy rating in a research report on Thursday, July 12th. Oppenheimer assumed coverage on ArQule in a research report on Tuesday, June 12th. They set an outperform rating and a $7.00 price target on the stock. Finally, Needham & Company LLC raised their price target on ArQule from $6.00 to $7.00 and gave the stock a buy rating in a research report on Monday, June 18th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $6.65.

Shares of ARQL opened at $4.42 on Tuesday. The company has a current ratio of 5.99, a quick ratio of 5.99 and a debt-to-equity ratio of 0.54. ArQule has a 1 year low of $0.97 and a 1 year high of $7.21. The stock has a market cap of $615.90 million, a price-to-earnings ratio of -11.33 and a beta of 1.15.

ArQule (NASDAQ:ARQL) last released its quarterly earnings results on Wednesday, August 1st. The biotechnology company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. The business had revenue of $13.71 million for the quarter, compared to analyst estimates of $7.70 million. During the same period in the prior year, the business earned ($0.12) EPS. As a group, equities analysts predict that ArQule will post -0.12 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in shares of ArQule during the first quarter worth about $100,000. CAPROCK Group Inc. acquired a new stake in ArQule in the 2nd quarter valued at approximately $109,000. Zebra Capital Management LLC acquired a new stake in ArQule in the 2nd quarter valued at approximately $115,000. State Board of Administration of Florida Retirement System acquired a new stake in ArQule in the 2nd quarter valued at approximately $169,000. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in ArQule in the 2nd quarter valued at approximately $171,000. 65.09% of the stock is currently owned by institutional investors.

About ArQule

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.

Read More: What is the NASDAQ Stock Market?

Get a free copy of the Zacks research report on ArQule (ARQL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for ArQule (NASDAQ:ARQL)

Receive News & Ratings for ArQule Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArQule and related companies with MarketBeat.com's FREE daily email newsletter.