Threshold Pharmaceuticals, Inc. (MTEM) Sees Large Volume Increase
Shares of Threshold Pharmaceuticals, Inc. (NASDAQ:MTEM) saw an uptick in trading volume on Friday . 1,227,152 shares traded hands during mid-day trading, an increase of 1,404% from the previous session’s volume of 81,570 shares.The stock last traded at $9.08 and had previously closed at $7.81.
Several brokerages have recently issued reports on MTEM. ValuEngine cut Threshold Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Thursday, June 29th. Ladenburg Thalmann Financial Services began coverage on Threshold Pharmaceuticals in a report on Thursday, August 3rd. They issued a “buy” rating and a $10.00 target price on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $0.40 target price on shares of Threshold Pharmaceuticals in a report on Thursday, August 3rd. Finally, Zacks Investment Research cut Threshold Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th.
The firm has a 50 day moving average of $5.63 and a 200 day moving average of $5.59. The company’s market cap is $244.08 million.
Threshold Pharmaceuticals (NASDAQ:MTEM) last released its quarterly earnings data on Monday, July 31st. The biotechnology company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.77) by $0.99. The business had revenue of $3.00 million during the quarter. Equities analysts predict that Threshold Pharmaceuticals, Inc. will post ($0.74) EPS for the current fiscal year.
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About Threshold Pharmaceuticals
Molecular Templates, Inc, formerly Threshold Pharmaceuticals, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery and development of therapeutic and diagnostic agents that selectively target tumor cells for the treatment of patients living with cancer. It is developing two therapeutic product candidates based on hypoxia-activated prodrug technology: evofosfamide and tarloxotinib.
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