Analysts Set Molecular Templates Inc (NASDAQ:MTEM) PT at $15.00
Shares of Molecular Templates Inc (NASDAQ:MTEM) have earned a consensus rating of “Buy” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $15.00.
MTEM has been the subject of a number of recent research reports. Zacks Investment Research raised Molecular Templates from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a research report on Saturday, March 30th. UBS Group initiated coverage on Molecular Templates in a research report on Monday, April 29th. They set a “buy” rating and a $12.00 price target for the company. TheStreet raised Molecular Templates from a “d” rating to a “c-” rating in a research report on Tuesday, April 2nd. ValuEngine raised Molecular Templates from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. Finally, BidaskClub downgraded Molecular Templates from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 10th.
Shares of MTEM traded down $0.01 on Wednesday, hitting $7.28. The company’s stock had a trading volume of 2,794 shares, compared to its average volume of 89,126. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average of $7.82. Molecular Templates has a fifty-two week low of $3.19 and a fifty-two week high of $8.77. The stock has a market capitalization of $261.80 million, a price-to-earnings ratio of -7.11 and a beta of 2.76.
A number of large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its position in Molecular Templates by 56.7% during the 1st quarter. Marshall Wace LLP now owns 38,493 shares of the biotechnology company’s stock valued at $224,000 after purchasing an additional 13,925 shares during the last quarter. Private Advisors LLC bought a new position in Molecular Templates during the 1st quarter valued at approximately $98,000. Fosun International Ltd raised its position in Molecular Templates by 39.3% during the 1st quarter. Fosun International Ltd now owns 162,991 shares of the biotechnology company’s stock valued at $940,000 after purchasing an additional 45,968 shares during the last quarter. Diag Capital Management LP bought a new position in Molecular Templates during the 4th quarter valued at approximately $985,000. Finally, Knoll Capital Management LP bought a new position in Molecular Templates during the 4th quarter valued at approximately $460,000. 36.52% of the stock is owned by hedge funds and other 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.
See Also: Why are trading ranges significant?
Receive News & Ratings for Molecular Templates Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molecular Templates and related companies with MarketBeat.com's FREE daily email newsletter.