ArQule, Inc. was a big mover last session, as the company saw its shares rise more than 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company—as the stock is now down 16.4% in the past one-month time frame.
The move came after the company announced that the first patient was dosed in registrational MOSIAC trial of Miransertib for the treatment of proteus syndrome and PIK3CA-related overgrowth spectrum.
The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
ArQule currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
Investors interested in the Medical - Drugs industry may consider a better-ranked stock like KemPharm, Inc. (KMPH - Free Report) , which carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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