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

Brokerages expect that Molecular Templates, Inc. (NASDAQ:MTEM – Get 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:MTEM – Get 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.

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