Oppenheimer Keeps Their Buy Rating on Molecular Templates Inc (MTEM)


Oppenheimer analyst Kevin DeGeeter maintained a Buy rating on Molecular Templates Inc (MTEM) today and set a price target of $15. The company’s shares closed yesterday at $5.83.

DeGeeter wrote:

“MTEM and partner Takeda presented important data demonstrating TAK-169 offers an attractive profile for multiple myeloma (MM) including 1) strong competitive binding in presence of daratumumab and activity against daratumumab-resistant tumors, 2) additive benefit in combination with undisclosed standard of care (we assume proteasome inhibitor from Takeda), 3) retention of shiga-toxin mediated direct cell- kill activity through ribosomal inhibition, and 4) potential to dose every 2 weeks. Importantly, investigators noted no evidence of capillary leak syndrome (CLS) at doses higher than explored with first generation ETB MT-3724. We believe the CLS data suggest second-gen ETBs are less immunogenic than first generation, supporting higher exposure levels and greater potency. We believe the clean CLS profile for TAK-169 may support accelerated partnering talks with pharma companies.”

According to TipRanks.com, DeGeeter is a 4-star analyst with an average return of 11.0% and a 48.3% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Catalyst Biosciences Inc, Neon Therapeutics Inc, and Genomic Health.

Currently, the analyst consensus on Molecular Templates Inc is a Moderate Buy with an average price target of $15, representing a 157.3% upside. In a report issued on March 29, Cowen & Co. also maintained a Buy rating on the stock.

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Based on Molecular Templates Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $6.63 million. In comparison, last year the company had a GAAP net loss of $8.71 million.

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Molecular Templates, Inc. is a clinical stage biopharmaceutical company, which engages in the discovery, development, and commercialization of therapeutics for the treatment of cancers and other serious diseases. The company was founded on August 1, 2017 and is headquartered in Austin, TX.

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