Oppenheimer analyst Kevin DeGeeter maintained a Buy rating on Molecular Templates (MTEM – Research Report) today and set a price target of $13.00. The company’s shares closed last Friday at $7.82, close to its 52-week low of $7.38.
According to TipRanks.com, DeGeeter is a 5-star analyst with an average return of 41.9% and a 47.0% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Cyclacel Pharmaceuticals, Sensei Biotherapeutics, and Taysha Gene Therapies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Molecular Templates with a $14.25 average price target.
Based on Molecular Templates’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.22 million and GAAP net loss of $26.78 million. In comparison, last year the company earned revenue of $4.14 million and had a GAAP net loss of $22.02 million.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MTEM in relation to earlier this year.
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Molecular Templates, Inc. is a clinical stage biopharmaceutical company, which engages in the discovery, development, and commercialization of biologic therapeutics for the treatment of cancers and other serious diseases. The company utilizes its proprietary biologic drug platform to design and generate engineered toxin bodies, or ETBs. Molecular Templates was founded on October 17, 2001 and is headquartered in Austin, TX.