Molecular Templates (NASDAQ:MTEM) Lifted to “Hold” at BidaskClub

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Molecular Templates (NASDAQ:MTEM) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Friday, BidAskClub reports.

MTEM has been the subject of a number of other research reports. Cowen reaffirmed a “buy” rating and set a $77.00 price objective on shares of Centene in a research note on Sunday, March 31st. TheStreet downgraded shares of SYNNEX from a “b” rating to a “c+” rating in a research report on Tuesday, April 2nd. UBS Group assumed coverage on shares of Molecular Templates in a research report on Monday, April 29th. They set a “buy” rating and a $12.00 target price for the company. ValuEngine raised shares of Vermillion from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Finally, Zacks Investment Research raised shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Wednesday, June 5th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Molecular Templates currently has a consensus rating of “Buy” and an average target price of $13.58.

MTEM stock traded down $0.19 during trading on Friday, hitting $7.40. The stock had a trading volume of 49,400 shares, compared to its average volume of 88,044. The company has a 50 day moving average price of $7.68. Molecular Templates has a 1-year low of $3.19 and a 1-year high of $8.77. The company has a market capitalization of $276.51 million, a PE ratio of -7.25 and a beta of 2.75. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.24 and a current ratio of 3.24.

Molecular Templates (NASDAQ:MTEM) last posted its quarterly earnings data on Monday, May 13th. The biotechnology company reported ($0.17) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.05. Molecular Templates had a negative net margin of 42.15% and a negative return on equity of 9.14%. The company had revenue of $7.01 million during the quarter, compared to the consensus estimate of $6.00 million. As a group, analysts predict that Molecular Templates will post -0.87 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP boosted its holdings in Molecular Templates by 56.7% in the 1st quarter. Marshall Wace LLP now owns 38,493 shares of the biotechnology company’s stock worth $224,000 after acquiring an additional 13,925 shares during the period. Private Advisors LLC purchased a new position in Molecular Templates in the 1st quarter worth approximately $98,000. Fosun International Ltd boosted its holdings in Molecular Templates by 39.3% in the 1st quarter. Fosun International Ltd now owns 162,991 shares of the biotechnology company’s stock worth $940,000 after acquiring an additional 45,968 shares during the period. Geode Capital Management LLC boosted its holdings in Molecular Templates by 78.1% in the 4th quarter. Geode Capital Management LLC now owns 134,069 shares of the biotechnology company’s stock worth $541,000 after acquiring an additional 58,780 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in 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 acquiring an additional 16,585 shares during the period. Hedge funds and other institutional investors own 36.52% of the company’s stock.

About Molecular Templates

Molecular Templates, Inc, a clinical stage oncology 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 II clinical trial for the treatment of relapsed/refractory diffuse large B-cell lymphoma; and Phase II clinical trial for treating non-Hodgkin's lymphoma.

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