Molecular Templates (NASDAQ:MTEM) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Molecular Templates (NASDAQ:MTEM) from a hold rating to a sell rating in a research note published on Friday, Zacks.com reports.

According to Zacks, “Molecular Templates Inc. is focused on the discovery, development and commercialization of next-generation immunotoxins called Engineered Toxin Bodies for the treatment of cancers and other serious diseases. Molecular Templates Inc., formerly known as Threshold Pharmaceuticals Inc., is headquartered in Austin, United States. “

Several other brokerages have also recently issued reports on MTEM. TheStreet cut Molecular Templates from a c- rating to a d rating in a research note on Monday, August 5th. ValuEngine cut Molecular Templates from a hold rating to a sell rating in a research note on Thursday, August 1st. Cowen restated a buy rating on shares of Molecular Templates in a research note on Tuesday, August 13th. UBS Group began coverage on Molecular Templates in a research note on Monday, April 29th. They set a buy rating and a $12.00 price objective on the stock. Finally, BidaskClub cut Molecular Templates from a hold rating to a sell rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. Molecular Templates currently has a consensus rating of Hold and an average price target of $13.58.

Shares of NASDAQ MTEM opened at $5.09 on Friday. The stock’s 50 day moving average price is $6.65 and its two-hundred day moving average price is $6.47. Molecular Templates has a 52-week low of $3.19 and a 52-week high of $8.77. The stock has a market capitalization of $185.81 million, a P/E ratio of -4.99 and a beta of 2.77. The company has a quick ratio of 3.24, a current ratio of 3.11 and a debt-to-equity ratio of 0.15.

Molecular Templates (NASDAQ:MTEM) last announced its quarterly earnings data on Monday, August 12th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.02). Molecular Templates had a negative net margin of 113.85% and a negative return on equity of 27.72%. The firm had revenue of $5.45 million for the quarter, compared to analyst estimates of $6.00 million. On average, analysts anticipate that Molecular Templates will post -0.92 EPS for the current year.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Molecular Templates by 26.4% during the 4th quarter. BlackRock Inc. now owns 743,893 shares of the biotechnology company’s stock worth $3,005,000 after acquiring an additional 155,240 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Molecular Templates by 37.6% during the 4th quarter. Bank of New York Mellon Corp now owns 36,854 shares of the biotechnology company’s stock worth $149,000 after acquiring an additional 10,076 shares in the last quarter. Northern Trust Corp lifted its stake in Molecular Templates by 59.2% during the 4th quarter. Northern Trust Corp now owns 165,677 shares of the biotechnology company’s stock worth $669,000 after acquiring an additional 61,616 shares in the last quarter. Geode Capital Management LLC lifted its stake in Molecular Templates by 78.1% during 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 in the last quarter. Finally, Fosun International Ltd lifted its stake in Molecular Templates by 39.3% during 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 in the last quarter. 38.29% of the stock is owned by 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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