Brokerages Anticipate Molecular Templates, Inc. (NASDAQ:MTEM) Will Announce Quarterly Sales of $6.38 Million

Brokerages expect that Molecular Templates, Inc. (NASDAQ:MTEMGet Rating) will announce $6.38 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Molecular Templates’ earnings. The lowest sales estimate is $4.00 million and the highest is $8.75 million. Molecular Templates posted sales of $15.13 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 57.8%. The business is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that Molecular Templates will report full year sales of $26.33 million for the current fiscal year, with estimates ranging from $10.50 million to $48.00 million. For the next financial year, analysts forecast that the firm will report sales of $29.17 million, with estimates ranging from $10.50 million to $57.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Molecular Templates.

Molecular Templates (NASDAQ:MTEMGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The biotechnology company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.04. The company had revenue of $8.49 million during the quarter, compared to analyst estimates of $6.88 million. Molecular Templates had a negative net margin of 177.06% and a negative return on equity of 110.16%.

Several analysts have recently weighed in on MTEM shares. Bank of America lowered shares of Molecular Templates from a “buy” rating to an “underperform” rating and set a $1.50 price objective for the company. in a report on Friday, May 27th. Zacks Investment Research raised shares of Molecular Templates from a “sell” rating to a “hold” rating in a research note on Friday, March 25th. Stifel Nicolaus decreased their price target on shares of Molecular Templates from $11.00 to $9.00 in a research note on Friday, May 13th. Finally, Barclays decreased their price target on shares of Molecular Templates from $8.00 to $4.50 and set an “overweight” rating on the stock in a research note on Wednesday, March 30th.

NASDAQ MTEM opened at $1.08 on Friday. The firm has a market cap of $60.85 million, a price-to-earnings ratio of -0.78 and a beta of 1.61. The company has a 50 day moving average of $1.75 and a 200-day moving average of $2.73. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.75. Molecular Templates has a 1-year low of $0.88 and a 1-year high of $9.13.

In related news, major shareholder Target N. V. Biotech purchased 200,000 shares of the firm’s stock in a transaction dated Monday, May 16th. The shares were acquired at an average cost of $1.18 per share, with a total value of $236,000.00. Following the completion of the purchase, the insider now directly owns 11,192,003 shares of the company’s stock, valued at $13,206,563.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 28.40% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Citigroup Inc. boosted its stake in Molecular Templates by 100.4% in the third quarter. Citigroup Inc. now owns 4,765 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 2,387 shares during the last quarter. Royal Bank of Canada boosted its stake in Molecular Templates by 97.7% in the third quarter. Royal Bank of Canada now owns 5,186 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 2,563 shares during the last quarter. Invesco Ltd. boosted its stake in Molecular Templates by 25.2% in the third quarter. Invesco Ltd. now owns 16,244 shares of the biotechnology company’s stock valued at $109,000 after acquiring an additional 3,270 shares during the last quarter. Advisor Group Holdings Inc. boosted its stake in Molecular Templates by 764.6% in the third quarter. Advisor Group Holdings Inc. now owns 4,349 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 3,846 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Molecular Templates by 374.5% in the third quarter. BNP Paribas Arbitrage SA now owns 6,757 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 5,333 shares during the last quarter. 88.72% of the stock is currently 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.

Featured Articles

Get a free copy of the Zacks research report on Molecular Templates (MTEM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Molecular Templates (NASDAQ:MTEM)

Want More Great Investing Ideas?

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.