ArQule (ARQL) is Upgraded by RBC Capital Mkts to Outperform, Raises Price Target to $5

ArQule (ARQL) is Upgraded by RBC Capital Mkts to Outperform according to the research report released to the investors. The brokerage firm has raised the Price Target to $5 from a previous price target of $4 . Earlier the firm had a rating of Sector Perform on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

ArQule, Inc. (NASDAQ:ARQL) witnessed a volatile trading activity on Thursday and eventually ended flat at 0% or 0 points without letting the bulls or bears take much advantage. The trading began at $2.13 and reached the intraday high at $2.19. The bulls started the profit booking and pushed the shares to intraday low of $2.13. The trading session was marked by a volume range of 55,703 shares exchanging hands. The 52-week high of the shares is $2.65 and the 52-week low is $1.05. The market cap of the company stands at $135 million and there are 62,891,548 shares in public circulation.

ArQule, Inc. (NASDAQ:ARQL) has received a hold rating for the short term, according to the latest rank of 3 from research firm, Zacks. The company received an average rating of 3 from 1 analysts. 1 analysts have rated the company at hold.

Shares of ArQule Inc. appreciated by 0.94% during the last five trading days but lost 11.93% on a 4-week basis. ArQule Inc. is up 13.83% in the last 3-month period. Year-to-Date the stock performance stands at 75.41%.”

ArQule, Inc. is a clinical-stage biotechnology company engaged in the research and development of cancer therapeutics. It employs technologies, such as its ArQule Kinase Inhibitor Platform to design and develop drugs. Its product is ARQ 197, an orally administered inhibitor of the c-Met receptor tyrosine kinase (c-Met). C-Met is a target for cancer therapy, based on its multiple roles in cancerous cell proliferation, tumor spread, new blood vessel formation and resistance to certain drug therapies. It has licensed commercial rights to ARQ 197 for human cancer indications to Daiichi Sankyo in the United States, Europe, South America and the rest of the world, excluding Japan and other Asian countries, where it has licensed commercial rights to Kyowa Hakko Kirin. In August 2011, Kyowa Hakko Kirin announced the initiation of the Phase III ATTENTION (Asian Trial of Tivantinib plus Erlotinib vs. Erlotinib for NSCLC without EGFR Mutation) trial of tivantinib in combination with erlotinib.