$6.88 Million in Sales Expected for Molecular Templates, Inc. (NASDAQ:MTEM) This Quarter

Brokerages expect Molecular Templates, Inc. (NASDAQ:MTEMGet Rating) to post $6.88 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Molecular Templates’ earnings. The highest sales estimate is $8.75 million and the lowest is $5.00 million. Molecular Templates posted sales of $3.22 million in the same quarter last year, which suggests a positive year over year growth rate of 113.7%. The firm is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Molecular Templates will report full year sales of $26.17 million for the current year, with estimates ranging from $10.50 million to $48.00 million. For the next year, analysts anticipate that the business will report sales of $29.17 million, with estimates ranging from $10.50 million to $57.00 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Molecular Templates.

Molecular Templates (NASDAQ:MTEMGet Rating) last released its quarterly earnings results on Monday, March 28th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.22. Molecular Templates had a negative return on equity of 96.66% and a negative net margin of 214.51%.

A number of equities research analysts have recently weighed in on MTEM shares. Zacks Investment Research raised Molecular Templates from a “sell” rating to a “hold” rating in a research note on Friday, March 25th. Barclays lowered their price target on Molecular Templates from $8.00 to $4.50 and set an “overweight” rating on the stock in a research report on Wednesday, March 30th.

A number of large investors have recently made changes to their positions in the stock. Bellevue Group AG boosted its stake in Molecular Templates by 13.0% during the 3rd quarter. Bellevue Group AG now owns 10,878,003 shares of the biotechnology company’s stock valued at $72,991,000 after purchasing an additional 1,249,382 shares during the period. BlackRock Inc. boosted its stake in Molecular Templates by 8.7% during the 4th quarter. BlackRock Inc. now owns 2,850,901 shares of the biotechnology company’s stock valued at $11,175,000 after purchasing an additional 228,321 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in shares of Molecular Templates by 18.2% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,200,000 shares of the biotechnology company’s stock worth $4,704,000 after acquiring an additional 185,000 shares during the period. Kingdon Capital Management L.L.C. lifted its position in shares of Molecular Templates by 1.0% in the 3rd quarter. Kingdon Capital Management L.L.C. now owns 1,021,317 shares of the biotechnology company’s stock worth $6,853,000 after acquiring an additional 9,822 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Molecular Templates by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 683,792 shares of the biotechnology company’s stock worth $2,680,000 after acquiring an additional 26,884 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Shares of NASDAQ MTEM traded down $0.16 during mid-day trading on Friday, hitting $2.95. 3,899 shares of the company traded hands, compared to its average volume of 184,937. The business has a 50 day moving average of $2.74 and a two-hundred day moving average of $4.05. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.54. Molecular Templates has a 1 year low of $2.22 and a 1 year high of $9.63.

About Molecular Templates (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.

Read More

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)

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.