MLV Maintains Buy on ArQule

MLV is out with its report today on ArQule (NASDAQ: ARQL), maintaining Buy.

in its report, MLV writes, "We have revised our model and now project that ArQule could become sustainably profitable in 2015 based on the launch of tivantinib for NSCLC and HCC (if results of the ongoing trials are favorable). Our one-year price target for ArQule, Inc. remains at $12.50 as we have extended the time horizon in our model to 2015 (from 2014). MLV is maintaining its BUY recommendation."

Shares of ARQL closed Friday at $4.30.