Several other equities research analysts also recently issued reports on the company. TheStreet downgraded SYNNEX from a “b” rating to a “c+” rating in a report on Tuesday, April 2nd. UBS Group assumed coverage on Molecular Templates in a report on Monday, April 29th. They set a “buy” rating and a $12.00 price target for the company. Zacks Investment Research raised First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Wednesday, June 5th. Cowen reaffirmed a “buy” rating and set a $77.00 price target on shares of Centene in a report on Sunday, March 31st. Finally, ValuEngine raised Vermillion from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $13.58.
Shares of Molecular Templates stock opened at $7.28 on Friday. The firm’s fifty day simple moving average is $7.80. Molecular Templates has a 1 year low of $3.19 and a 1 year high of $8.77. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.24 and a quick ratio of 3.24.
Molecular Templates (NASDAQ:MTEM) last announced its quarterly earnings results on Monday, May 13th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.05. Molecular Templates had a negative return on equity of 9.14% and a negative net margin of 42.15%. The business had revenue of $7.01 million during the quarter, compared to the consensus estimate of $6.00 million. On average, sell-side 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. Diag Capital Management LP acquired a new stake in shares of Molecular Templates during the fourth quarter worth $985,000. BlackRock Inc. lifted its holdings in shares of Molecular Templates by 26.4% during 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 in the last quarter. Knoll Capital Management LP acquired a new stake in shares of Molecular Templates during the fourth quarter worth $460,000. Northern Trust Corp lifted its holdings in shares of Molecular Templates by 59.2% during the fourth quarter. Northern Trust Corp now owns 165,677 shares of the biotechnology company’s stock worth $669,000 after buying an additional 61,616 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Molecular Templates by 78.1% during the fourth quarter. Geode Capital Management LLC now owns 134,069 shares of the biotechnology company’s stock worth $541,000 after buying an additional 58,780 shares in the last quarter. 36.52% of the stock is owned by institutional investors.
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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