Molecular Templates (MTEM) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Molecular Templates (NASDAQ:MTEM) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
According to Zacks, “Molecular Templates Inc. is focused on the discovery, development and commercialization of next-generation immunotoxins called Engineered Toxin Bodies for the treatment of cancers and other serious diseases. Molecular Templates Inc., formerly known as Threshold Pharmaceuticals Inc., is headquartered in Austin, United States. “
Several other research analysts also recently weighed in on the company. BidaskClub raised Molecular Templates from a buy rating to a strong-buy rating in a research note on Friday, December 22nd. ValuEngine downgraded Molecular Templates from a hold rating to a sell rating in a research note on Friday, December 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $5.20.
Molecular Templates (NASDAQ:MTEM) last announced its earnings results on Tuesday, November 14th. The biotechnology company reported ($0.62) earnings per share for the quarter. sell-side analysts forecast that Molecular Templates will post -1.32 earnings per share for the current fiscal year.
An institutional investor recently bought a new position in Molecular Templates stock. OxFORD Asset Management LLP bought a new position in shares of Molecular Templates Inc (NASDAQ:MTEM) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 20,428 shares of the biotechnology company’s stock, valued at approximately $140,000. OxFORD Asset Management LLP owned 0.08% of Molecular Templates at the end of the most recent reporting period. Institutional investors own 14.59% of the company’s stock.
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Molecular Templates Company Profile
Molecular Templates, Inc, formerly Threshold Pharmaceuticals, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery and development of therapeutic and diagnostic agents that selectively target tumor cells for the treatment of patients living with cancer. The Company also focused on the discovery, development, and commercialization of immunotoxins called engineered toxin bodies (ETBs).
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