A number of other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Wednesday, June 5th. Cowen restated a “buy” rating and set a $77.00 target price on shares of Centene in a research report on Sunday, March 31st. UBS Group initiated 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 on the stock. ValuEngine upgraded shares of Vermillion from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Finally, TheStreet downgraded shares of SYNNEX from a “b” rating to a “c+” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. Molecular Templates currently has a consensus rating of “Buy” and a consensus target price of $13.58.
Shares of NASDAQ MTEM opened at $7.28 on Friday. The stock’s 50-day moving average is $7.80. 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 has a 12-month low of $3.19 and a 12-month high of $8.77.
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 the Thomson Reuters’ consensus estimate of ($0.22) by $0.05. The business had revenue of $7.01 million for the quarter, compared to the consensus estimate of $6.00 million. Molecular Templates had a negative net margin of 42.15% and a negative return on equity of 9.14%. On average, sell-side analysts forecast that Molecular Templates will post -0.87 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in MTEM. Rhumbline Advisers acquired a new stake in shares of Molecular Templates in the 4th quarter valued at approximately $53,000. Private Advisors LLC acquired a new stake in shares of Molecular Templates in the 1st quarter valued at approximately $98,000. Connor Clark & Lunn Investment Management Ltd. raised its position 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 valued at $116,000 after acquiring an additional 16,585 shares during the period. Bank of New York Mellon Corp raised its position 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 valued at $149,000 after acquiring an additional 10,076 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Molecular Templates by 56.7% in the 1st quarter. Marshall Wace LLP now owns 38,493 shares of the biotechnology company’s stock valued at $224,000 after acquiring an additional 13,925 shares during the period. Institutional investors and hedge funds 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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