Molecular Templates (NASDAQ:MTEM) Price Target Lowered to $9.00 at Stifel Nicolaus

Molecular Templates (NASDAQ:MTEM – Get Rating) had its price objective lowered by Stifel Nicolaus from $11.00 to $9.00 in a research report report published on Friday morning, The Fly reports.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research raised Molecular Templates from a sell rating to a hold rating in a report on Friday, March 25th. Barclays cut their price target on Molecular Templates from $8.00 to $4.50 and set an overweight rating for the company in a report on Wednesday, March 30th.

Shares of Molecular Templates stock traded up $0.06 during mid-day trading on Friday, reaching $1.24. 238,167 shares of the stock traded hands, compared to its average volume of 227,856. The business has a 50-day moving average of $2.37 and a 200 day moving average of $3.29. Molecular Templates has a fifty-two week low of $1.12 and a fifty-two week high of $9.38. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.18 and a quick ratio of 3.18.

Molecular Templates (NASDAQ:MTEM – Get Rating) last announced its earnings results on Thursday, May 12th. The biotechnology company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.09. Molecular Templates had a negative return on equity of 96.66% and a negative net margin of 214.51%. As a group, analysts predict that Molecular Templates will post -1.58 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Citigroup Inc. increased its stake in Molecular Templates by 100.4% during the third quarter. Citigroup Inc. now owns 4,765 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 2,387 shares during the last quarter. Royal Bank of Canada increased its stake in Molecular Templates by 97.7% during the third quarter. Royal Bank of Canada now owns 5,186 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 2,563 shares during the last quarter. Invesco Ltd. increased its stake in Molecular Templates by 25.2% during the third quarter. Invesco Ltd. now owns 16,244 shares of the biotechnology company’s stock worth $109,000 after acquiring an additional 3,270 shares during the last quarter. IndexIQ Advisors LLC increased its stake in Molecular Templates by 11.1% during the third quarter. IndexIQ Advisors LLC now owns 35,626 shares of the biotechnology company’s stock worth $239,000 after acquiring an additional 3,569 shares during the last quarter. Finally, Advisor Group Holdings Inc. increased its stake in Molecular Templates by 764.6% during the third quarter. Advisor Group Holdings Inc. now owns 4,349 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 3,846 shares during the last quarter. 88.72% of the stock is owned by hedge funds and other institutional investors.

Molecular Templates Company Profile (Get Rating)

Molecular Templates, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of biologic therapeutics for the treatment of cancer and other serious diseases. The company primarily develops a pipeline of therapies through its proprietary biologic engineered toxin body (ETB) drug platform.

Further Reading

• Get a free copy of the StockNews.com research report on Molecular Templates (MTEM)
• The Three Most Upgraded Stocks You Can Buy Now 
• MarketBeat: Week in Review 5/9 – 5/13
• Is Electronic Arts (NASDAQ: EA) Suddenly A Safe Haven?
• Beyond Meat Stock Value is Improving
• The Travel Sector Is Getting Upgraded 

Want More Great Investing Ideas?