Other analysts have also issued reports about the company. Cowen reissued a buy rating and issued a $77.00 price target on shares of Centene in a research note on Sunday, March 31st. Zacks Investment Research raised First Industrial Realty Trust from a hold rating to a buy rating and set a $39.00 price target on the stock in a research note on Wednesday, June 5th. TheStreet lowered SYNNEX from a b rating to a c+ rating in a research note on Tuesday, April 2nd. ValuEngine raised Vermillion from a hold rating to a buy rating in a research note on Wednesday, May 15th. Finally, UBS Group started coverage on Molecular Templates in a research note on Monday, April 29th. They issued a buy rating and a $12.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $13.58.
Molecular Templates stock opened at $7.17 on Friday. The stock has a market cap of $267.68 million, a PE ratio of -7.03 and a beta of 2.76. The stock’s 50-day moving average is $7.74. Molecular Templates has a 52 week low of $3.19 and a 52 week high of $8.77. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.14.
Molecular Templates (NASDAQ:MTEM) last issued its quarterly earnings results on Monday, May 13th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.05. Molecular Templates had a negative return on equity of 9.14% and a negative net margin of 42.15%. The firm had revenue of $7.01 million for the quarter, compared to analyst estimates of $6.00 million. Equities research analysts predict that Molecular Templates will post -0.87 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its holdings in shares of Molecular Templates by 56.7% during the first 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 bought a new stake in shares of Molecular Templates in the first quarter valued at approximately $98,000. Fosun International Ltd boosted its stake in shares of Molecular Templates by 39.3% in the first quarter. Fosun International Ltd now owns 162,991 shares of the biotechnology company’s stock valued at $940,000 after buying an additional 45,968 shares during the period. Diag Capital Management LP bought a new stake in shares of Molecular Templates in the fourth quarter valued at approximately $985,000. Finally, Knoll Capital Management LP bought a new stake in shares of Molecular Templates in the fourth quarter valued at approximately $460,000. 36.52% of the stock is currently owned by institutional investors and hedge funds.
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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