Molecular Templates (MTEM) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Molecular Templates (NASDAQ:MTEM) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, ValuEngine reports.

Other equities research analysts have also issued reports about the company. UBS Group assumed coverage on Molecular Templates in a research report on Monday, April 29th. They set a buy rating and a $12.00 price target on the stock. Cowen reissued a buy rating on shares of Molecular Templates in a research report on Sunday, March 31st. Zacks Investment Research raised Molecular Templates from a hold rating to a buy rating and set a $6.50 price target on the stock in a research report on Saturday, March 30th. TheStreet raised Molecular Templates from a d rating to a c- rating in a research report on Tuesday, April 2nd. Finally, BidaskClub raised Molecular Templates from a buy rating to a strong-buy rating in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $13.58.

Shares of Molecular Templates stock traded down $0.26 on Wednesday, hitting $7.47. 104,843 shares of the company’s stock traded hands, compared to its average volume of 98,276. The stock has a market cap of $284.23 million, a P/E ratio of -7.32 and a beta of 3.19. The company has a current ratio of 3.24, a quick ratio of 3.23 and a debt-to-equity ratio of 0.14. Molecular Templates has a 52-week low of $3.19 and a 52-week high of $7.90.

Molecular Templates (NASDAQ:MTEM) last released its earnings results on Monday, May 13th. The biotechnology company reported ($0.17) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.05. The company had revenue of $7.01 million during the quarter, compared to analysts’ expectations of $6.00 million. Molecular Templates had a negative return on equity of 9.14% and a negative net margin of 42.15%. As a group, equities analysts predict that Molecular Templates will post -0.97 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BVF Inc. IL increased its position in Molecular Templates by 6.4% in the first quarter. BVF Inc. IL now owns 3,579,140 shares of the biotechnology company’s stock worth $20,795,000 after buying an additional 214,719 shares during the period. BlackRock Inc. increased its position in Molecular Templates by 26.4% in the fourth quarter. BlackRock Inc. now owns 743,893 shares of the biotechnology company’s stock worth $3,005,000 after buying an additional 155,240 shares during the period. Vanguard Group Inc increased its position in Molecular Templates by 20.7% in the third quarter. Vanguard Group Inc now owns 456,115 shares of the biotechnology company’s stock worth $2,459,000 after buying an additional 78,110 shares during the period. Vanguard Group Inc. increased its position in Molecular Templates by 20.7% in the third quarter. Vanguard Group Inc. now owns 456,115 shares of the biotechnology company’s stock worth $2,459,000 after buying an additional 78,110 shares during the period. Finally, Prosight Management LP acquired a new stake in Molecular Templates in the first quarter worth $1,730,000. 37.69% of the stock is currently owned by hedge funds and other institutional investors.

Molecular Templates Company Profile

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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Analyst Recommendations for Molecular Templates (NASDAQ:MTEM)

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