Molecular Templates Inc (MTEM) Receives $15.75 Average PT from Brokerages

Molecular Templates Inc (NASDAQ:MTEM) has earned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $13.90.

A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Molecular Templates from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a research note on Saturday. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $15.00 price target on shares of Molecular Templates in a research note on Monday, December 10th. CIBC assumed coverage on shares of Molecular Templates in a research note on Tuesday, December 11th. They issued an “outperform” rating and a $15.00 price target for the company. ValuEngine raised shares of Molecular Templates from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Oppenheimer began coverage on shares of Molecular Templates in a research note on Monday, December 10th. They issued an “outperform” rating and a $15.00 price target for the company.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MTEM. Northern Trust Corp raised its holdings in shares of Molecular Templates by 338.9% in the 2nd quarter. Northern Trust Corp now owns 97,228 shares of the biotechnology company’s stock worth $509,000 after purchasing an additional 75,076 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Molecular Templates by 976.5% during the third quarter. JPMorgan Chase & Co. now owns 89,436 shares of the biotechnology company’s stock valued at $482,000 after acquiring an additional 81,128 shares during the period. AXA acquired a new stake in shares of Molecular Templates during the third quarter valued at approximately $3,234,000. Dimensional Fund Advisors LP raised its holdings in shares of Molecular Templates by 74.5% during the third quarter. Dimensional Fund Advisors LP now owns 124,355 shares of the biotechnology company’s stock valued at $670,000 after acquiring an additional 53,089 shares during the period. Finally, Monashee Investment Management LLC acquired a new stake in shares of Molecular Templates during the third quarter valued at approximately $984,000. Institutional investors and hedge funds own 37.85% of the company’s stock.

Molecular Templates stock traded up $0.04 during midday trading on Monday, reaching $5.81. 144,429 shares of the stock traded hands, compared to its average volume of 61,330. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $211.78 million, a price-to-earnings ratio of -5.70 and a beta of 3.10. Molecular Templates has a fifty-two week low of $3.19 and a fifty-two week high of $9.76.

Molecular Templates (NASDAQ:MTEM) last posted its earnings results on Thursday, March 28th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.12). The firm had revenue of $4.68 million for the quarter, compared to analyst estimates of $5.00 million. Molecular Templates had a negative net margin of 82.03% and a negative return on equity of 13.66%. Research analysts expect that Molecular Templates will post -0.86 earnings per share for the current year.

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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Analyst Recommendations for Molecular Templates (NASDAQ:MTEM)

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