Threshold Pharmaceuticals, Inc. (NASDAQ:MTEM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

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 brokerages have also recently issued reports on MTEM. ValuEngine cut shares of Threshold Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Ladenburg Thalmann Financial Services initiated coverage on shares of Threshold Pharmaceuticals in a research note on Thursday, August 3rd. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $0.40 price objective on shares of Threshold Pharmaceuticals in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Threshold Pharmaceuticals has an average rating of “Hold” and a consensus price target of $5.37.

Shares of Threshold Pharmaceuticals (MTEM) traded down 6.23% during mid-day trading on Thursday, hitting $6.32. 177,278 shares of the company’s stock traded hands. Threshold Pharmaceuticals has a 1-year low of $3.85 and a 1-year high of $14.52. The stock has a 50 day moving average price of $5.63 and a 200-day moving average price of $5.59. The stock’s market cap is $169.89 million.

Threshold Pharmaceuticals (NASDAQ:MTEM) last announced its quarterly earnings data on Monday, July 31st. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.77) by $0.99. The business had revenue of $3.00 million during the quarter. Equities research analysts anticipate that Threshold Pharmaceuticals will post ($1.32) EPS for the current fiscal year.

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About Threshold Pharmaceuticals

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. It is developing two therapeutic product candidates based on hypoxia-activated prodrug technology: evofosfamide and tarloxotinib.

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