Wall Street brokerages forecast that Melinta Therapeutics Inc (NASDAQ:MLNT) will report $15.51 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Melinta Therapeutics’ earnings. The highest sales estimate is $15.80 million and the lowest is $15.21 million. Melinta Therapeutics reported sales of $34.08 million in the same quarter last year, which indicates a negative year over year growth rate of 54.5%. The business is scheduled to report its next quarterly earnings report on Wednesday, November 6th.
On average, analysts expect that Melinta Therapeutics will report full-year sales of $65.84 million for the current year, with estimates ranging from $61.97 million to $73.00 million. For the next financial year, analysts anticipate that the firm will report sales of $78.94 million, with estimates ranging from $65.99 million to $91.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Melinta Therapeutics.
Melinta Therapeutics (NASDAQ:MLNT) last announced its quarterly earnings data on Friday, August 9th. The biotechnology company reported ($3.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.57) by ($0.50). Melinta Therapeutics had a negative return on equity of 60.39% and a negative net margin of 135.23%. The firm had revenue of $15.96 million during the quarter, compared to analysts’ expectations of $14.00 million.
Shares of NASDAQ:MLNT traded down $0.28 during trading on Friday, hitting $3.54. The stock had a trading volume of 850,400 shares, compared to its average volume of 1,197,444. Melinta Therapeutics has a 12-month low of $1.62 and a 12-month high of $23.00. The stock has a market capitalization of $49.34 million, a price-to-earnings ratio of -0.20 and a beta of 4.40. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 1.11. The stock has a 50-day simple moving average of $2.73 and a two-hundred day simple moving average of $3.78.
A number of hedge funds have recently made changes to their positions in MLNT. Bank of Montreal Can raised its position in Melinta Therapeutics by 253.2% during the second quarter. Bank of Montreal Can now owns 5,503 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 3,945 shares in the last quarter. Morgan Stanley raised its position in Melinta Therapeutics by 82.9% during the second quarter. Morgan Stanley now owns 10,822 shares of the biotechnology company’s stock valued at $72,000 after acquiring an additional 4,906 shares in the last quarter. Condor Capital Management purchased a new position in Melinta Therapeutics during the second quarter valued at approximately $93,000. Parametric Portfolio Associates LLC purchased a new position in Melinta Therapeutics during the second quarter valued at approximately $142,000. Finally, Paloma Partners Management Co purchased a new position in Melinta Therapeutics during the second quarter valued at approximately $205,000. Institutional investors own 19.47% of the company’s stock.
About Melinta Therapeutics
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, a monotherapy treatment of adult patients with acute bacterial skin or skin structure infections (ABSSSIs); Vabomere, an IV antibiotic used in treatment of gram-negative infections; Orbactiv, an IV 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.
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