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In an April 29 research report, analyst Jotin Marango reported that ROTH Capital Partners raised its price target on ArQule Inc. (ARQL:NASDAQ) to $10 per share in anticipation of a clinical update on its ARQ531 dose escalation study in chronic lymphocytic leukemia (CLL) patients, to be given at the European Hematology Association (EHA) Congress this June. "This spring, we are increasingly bullish on ArQule," and "remain high conviction buyers of ARQL shares," Marango wrote. The stock is currently trading at around $6.10 per share. The study results ArQule will present in six weeks will likely be from the sizeable group of CLL patients treated at higher doses of ARQ531, a BTK inhibitor, Marango noted. This would include cohort 6, whose dose was increased to 65 milligrams (65 mg) from 45 mg, and the expanded cohort 7, which received 65 mg. (Data from cohort 8, which is receiving 75 mg, likely will not be ready in time for the EHA meeting.) Marango highlighted that a positive update could elicit a favorable market reaction, particularly if patients experienced tumor shrinkage. The new data could move ArQule closer to determining the recommended dose and positioning of a Phase 2 study. Also, a positive report could "rekindle mergers and acquisitions speculation around ARQ531," he noted. Were the latter to happen, Marango purported, the interest would likely come from a handful of larger companies: AbbVie Inc. (ABBV:NYSE), Celgene Corp. (CELG:NASDAQ), Bayer AG (BAYRY:OTCMKTS; BAYN:XETRA), Daiichi Sankyo Co. (4568:TYO; DSKYF:OTCPK) and Jazz Pharmaceuticals Plc (JAZZ:NASDAQ). "Overall, we note that there certainly appear to be more potential apt buyers than there are reversible BTK inhibitors in development," he added. ROTH has a Buy rating on ArQule. https://www.streetwisereports.com/article/2019/05/08/price-t… https://twitter.com/semodough/status/1123170897395892224 |
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| aus der Diskussion: | ArQule *der News-Thread* |
| Autor (Datum des Eintrages): | kmastra (09.05.19 20:04:50) |
| Beitrag: | 501 von 533 (ID:60530628) |
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