Melinta Therapeutics Inc (MLNT) Given Consensus Rating of “Buy” by Brokerages

Melinta Therapeutics Inc (NASDAQ:MLNT) has earned a consensus rating of “Buy” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $10.88.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Melinta Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Melinta Therapeutics in a research report on Tuesday, October 2nd. Gabelli downgraded Melinta Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, December 20th. Finally, Cantor Fitzgerald set a $15.00 price target on Melinta Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, September 18th.

NASDAQ:MLNT traded up $0.05 during trading hours on Friday, reaching $1.06. 307,395 shares of the company were exchanged, compared to its average volume of 689,838. The company has a market capitalization of $58.26 million, a P/E ratio of -0.05 and a beta of 2.13. Melinta Therapeutics has a 1-year low of $0.64 and a 1-year high of $16.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.34 and a quick ratio of 1.04.



Melinta Therapeutics (NASDAQ:MLNT) last issued its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.05) by $0.55. The business had revenue of $34.08 million for the quarter, compared to the consensus estimate of $17.24 million. Melinta Therapeutics had a negative return on equity of 68.68% and a negative net margin of 202.31%. On average, sell-side analysts anticipate that Melinta Therapeutics will post -3.65 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of MLNT. Marshall Wace North America L.P. acquired a new stake in shares of Melinta Therapeutics in the 3rd quarter valued at $48,000. Boenning & Scattergood Inc. boosted its holdings in shares of Melinta Therapeutics by 101.1% in the 3rd quarter. Boenning & Scattergood Inc. now owns 47,750 shares of the biotechnology company’s stock valued at $189,000 after purchasing an additional 24,000 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its holdings in shares of Melinta Therapeutics by 411.1% in the 3rd quarter. Franklin Street Advisors Inc. NC now owns 64,650 shares of the biotechnology company’s stock valued at $255,000 after purchasing an additional 52,000 shares in the last quarter. Stonepine Capital Management LLC acquired a new stake in shares of Melinta Therapeutics in the 2nd quarter valued at $331,000. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Melinta Therapeutics by 23.7% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 90,646 shares of the biotechnology company’s stock valued at $358,000 after purchasing an additional 17,360 shares in the last quarter. 67.56% of the stock is currently owned by hedge funds and other institutional investors.

Melinta Therapeutics Company Profile

Melinta Therapeutics, Inc, a commercial-stage pharmaceutical company, discovers, develops, and commercializes various anti-infectives for the treatment of bacterial infectious diseases in North America. It offers Baxdela, an antibiotic for the treatment of acute bacterial skin and skin structure infections (ABSSSI); Vabomere, a carbapenem used in treatment of gram-negative infections; Orbactiv, an antibiotic of the lipoglycopeptide class for the treatment of adult patients with ABSSSIs; and Minocin, a IV antibiotic of the tetracycline class with activity against gram-positive and gram-negative pathogens, as well as Solithromycin, a macrolide antibiotic for the treatment of CABP.

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Analyst Recommendations for Melinta Therapeutics (NASDAQ:MLNT)

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