Laidlaw began coverage on shares of Molecular Templates (NASDAQ:MTEM) in a research note published on Monday, MarketBeat.com reports. The firm issued a buy rating and a $18.00 price objective on the biotechnology company’s stock.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research upgraded Molecular Templates from a sell rating to a hold rating in a report on Wednesday, September 19th. ValuEngine cut Molecular Templates from a hold rating to a sell rating in a report on Tuesday, September 4th.
NASDAQ:MTEM opened at $5.51 on Monday. Molecular Templates has a fifty-two week low of $4.00 and a fifty-two week high of $13.25. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.05. The stock has a market cap of $145.88 million, a PE ratio of -2.63 and a beta of 3.01.
Molecular Templates (NASDAQ:MTEM) last released its quarterly earnings data on Thursday, August 9th. The biotechnology company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.61. Molecular Templates had a negative return on equity of 22.67% and a negative net margin of 509.53%. The business had revenue of $1.37 million for the quarter. As a group, equities analysts expect that Molecular Templates will post -1.57 EPS for the current fiscal year.
In other news, Director David Hirsch bought 365,000 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The shares were acquired at an average price of $5.50 per share, with a total value of $2,007,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott D. Morenstein bought 545,454 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The stock was purchased at an average cost of $5.50 per share, for a total transaction of $2,999,997.00. The disclosure for this purchase can be found here. 52.00% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new stake in Molecular Templates in the 2nd quarter valued at approximately $138,000. Northern Trust Corp raised its position in Molecular Templates by 36.7% in the 1st quarter. Northern Trust Corp now owns 22,152 shares of the biotechnology company’s stock valued at $177,000 after buying an additional 5,948 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Molecular Templates in the 1st quarter valued at approximately $213,000. JPMorgan Chase & Co. raised its position in Molecular Templates by 41.4% in the 1st quarter. JPMorgan Chase & Co. now owns 50,020 shares of the biotechnology company’s stock valued at $400,000 after buying an additional 14,635 shares during the last quarter. Finally, Nexthera Capital LP acquired a new stake in Molecular Templates in the 2nd quarter valued at approximately $902,000. 21.16% of the stock is currently owned by institutional investors and hedge funds.
About Molecular Templates
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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