Zacks Investment Research downgraded shares of Threshold Pharmaceuticals, Inc. (NASDAQ:MTEM) from a hold rating to a sell rating in a report released 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 firms also recently commented on MTEM. ValuEngine downgraded shares of Threshold Pharmaceuticals from a sell rating to a strong sell rating in a report on Friday, September 1st. Ladenburg Thalmann Financial Services started coverage on shares of Threshold Pharmaceuticals in a report on Thursday, August 3rd. They set a buy rating and a $10.00 price objective for the company. Finally, Stifel Nicolaus reissued a hold rating and set a $0.40 price objective on shares of Threshold Pharmaceuticals in a report on Thursday, August 3rd.

Threshold Pharmaceuticals (NASDAQ:MTEM) opened at $8.46 on Wednesday. Threshold Pharmaceuticals has a 1-year low of $3.85 and a 1-year high of $11.88. The company has a current ratio of 6.16, a quick ratio of 6.16 and a debt-to-equity ratio of 0.02.

A hedge fund recently bought a new stake in Threshold Pharmaceuticals stock. OxFORD Asset Management LLP acquired a new position in Threshold Pharmaceuticals, Inc. (NASDAQ:MTEM) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,428 shares of the biotechnology company’s stock, valued at approximately $140,000. OxFORD Asset Management LLP owned 0.08% of Threshold Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 26.53% of the company’s stock.

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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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