Molecular Templates (NASDAQ:MTEM) Downgraded to “Buy” at BidaskClub

Molecular Templates (NASDAQ:MTEM) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday, BidAskClub reports.

MTEM has been the subject of several other reports. Zacks Investment Research upgraded shares of Molecular Templates from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research note on Saturday, March 30th. UBS Group initiated coverage on shares of Molecular Templates in a research note on Monday, April 29th. They set a “buy” rating and a $12.00 price objective for the company. TheStreet upgraded shares of Molecular Templates from a “d” rating to a “c-” rating in a research note on Tuesday, April 2nd. ValuEngine upgraded shares of Molecular Templates from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Finally, Cowen restated a “buy” rating on shares of Molecular Templates in a research note on Sunday, March 31st. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $13.58.

MTEM stock opened at $7.10 on Monday. The company has a market capitalization of $261.80 million, a P/E ratio of -6.96 and a beta of 2.87. The company has a quick ratio of 3.24, a current ratio of 3.24 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 $8.58.

Molecular Templates (NASDAQ:MTEM) last released its earnings results on Monday, May 13th. The biotechnology company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 42.15% and a negative return on equity of 9.14%. As a group, equities research analysts forecast that Molecular Templates will post -0.87 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of MTEM. Prosight Management LP acquired a new position in shares of Molecular Templates in the 1st quarter valued at $1,730,000. Diag Capital Management LP acquired a new position in shares of Molecular Templates in the 4th quarter valued at $985,000. BVF Inc. IL lifted its stake in shares of Molecular Templates by 6.4% in the 1st quarter. BVF Inc. IL now owns 3,579,140 shares of the biotechnology company’s stock valued at $20,795,000 after purchasing an additional 214,719 shares during the period. BlackRock Inc. lifted its stake in shares of Molecular Templates by 26.4% in the 4th quarter. BlackRock Inc. now owns 743,893 shares of the biotechnology company’s stock valued at $3,005,000 after purchasing an additional 155,240 shares during the period. Finally, Knoll Capital Management LP acquired a new position in shares of Molecular Templates in the 4th quarter valued at $460,000. Hedge funds and other institutional investors own 37.18% 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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