Roth Capital analyst Jotin Marango maintained a Buy rating on Arqule (ARQL) today and set a price target of $8. The company’s shares opened today at $4.51.
Marango commented:
“We are increasingly bullish on this orphan program, as well as on the recent progress of the more visible BTK inhibitor ARQ531 in CLL. Orphan AKT program now in registrational phase. According to management on today’s 4Q call, following minimal FDA commentary on the company’s proposed study protocol, the registrational program is ready to begin. Of note, this will not require a new study but rather three NDA-supporting cohorts will be opened under the existing Miransertib study in overgrowth syndromes: (1) Proteus cohort (10+ patients); (2) PROS basket cohort (20+ patients); (3) mixed cohort with patients screened out of the first two cohorts, treated for signal generation. The primary endpoint in the study will be quantitative: clinical response determined by photographic imaging in Proteus and volumetric MRI in PROS (has been used previously in neurofibromatosis).”
According to TipRanks.com, Marango is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -11.0% and a 35.0% success rate. Marango covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, Stemline Therapeutics Inc, and Aimmune Therapeutics.
The word on The Street in general, suggests a Hold analyst consensus rating for Arqule.
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The company has a one-year high of $7.21 and a one-year low of $1.70. Currently, Arqule has an average volume of 1M.
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ArQule, Inc. is a clinical-stage biopharmaceutical company, which engages in the research and development of targeted therapeutics to treat cancers and rare diseases. The company discovers, develops and commercializes novel small molecule drugs in areas of unmet need that will dramatically extend and improve the lives of its patients.
