Molecular Templates (MTEM) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Molecular Templates (NASDAQ:MTEM) from a hold rating to a buy rating in a report issued on Saturday, Zacks.com reports. They currently have $6.50 price target on the biotechnology company’s stock.
According to Zacks, “Molecular Templates Inc. is focused on the discovery, development and commercialization of next-generation immunotoxins called Engineered Toxin Bodies for the treatment of cancers and other serious diseases. Molecular Templates Inc., formerly known as Threshold Pharmaceuticals Inc., is headquartered in Austin, United States. “
A number of other research analysts have also issued reports on the company. CIBC started coverage on Molecular Templates in a research report on Tuesday, December 11th. They set an outperform rating and a $15.00 price target for the company. Oppenheimer started coverage on Molecular Templates in a research report on Monday, December 10th. They set an outperform rating and a $15.00 price target for the company. LADENBURG THALM/SH SH reiterated a buy rating and set a $15.00 price target on shares of Molecular Templates in a research report on Monday, December 10th. Finally, ValuEngine upgraded Molecular Templates from a sell rating to a hold rating in a research report on Monday, February 4th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Molecular Templates has a consensus rating of Buy and an average target price of $13.90.
Molecular Templates (NASDAQ:MTEM) last announced its quarterly earnings results on Thursday, March 28th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.12). Molecular Templates had a negative return on equity of 13.66% and a negative net margin of 82.03%. The business had revenue of $4.68 million for the quarter, compared to analyst estimates of $5.00 million. Equities analysts expect that Molecular Templates will post -0.86 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of MTEM. Rhumbline Advisers bought a new stake in shares of Molecular Templates in the 4th quarter worth $53,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Molecular Templates by 136.3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,750 shares of the biotechnology company’s stock worth $116,000 after buying an additional 16,585 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Molecular Templates by 37.6% in the 4th quarter. Bank of New York Mellon Corp now owns 36,854 shares of the biotechnology company’s stock worth $149,000 after buying an additional 10,076 shares in the last quarter. Fosun International Ltd bought a new stake in shares of Molecular Templates in the 4th quarter worth $427,000. Finally, Knoll Capital Management LP bought a new stake in shares of Molecular Templates in the 4th quarter worth $460,000. 37.85% of the stock is currently owned by institutional investors.
Molecular Templates Company Profile
Molecular Templates, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of biologic therapeutics for the treatment of cancer and other diseases. The company primarily develops a pipeline of engineered toxin bodies. Its lead drug candidate is MT-3724 that is in a Phase I clinical trial for the treatment of relapsed/refractory non-Hodgkin's lymphoma and B-cell lymphoma.
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