Melinta Therapeutics, Inc. (NASDAQ:MLNT) has been assigned a consensus rating of “Buy” from the ten research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $10.75.
A number of equities research analysts have issued reports on MLNT shares. HC Wainwright cut their price target on Melinta Therapeutics from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, October 22nd. Gabelli upgraded Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $11.50 price target for the company in a research note on Monday, October 22nd. They noted that the move was a valuation call. Cantor Fitzgerald set a $15.00 price objective on Melinta Therapeutics and gave the company a “buy” rating in a research report on Tuesday, September 18th. Jefferies Financial Group initiated coverage on Melinta Therapeutics in a research report on Tuesday, September 11th. They set a “buy” rating and a $15.00 price objective for the company. Finally, Zacks Investment Research upgraded Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research report on Friday, November 2nd.
MLNT stock traded up $0.08 during trading on Thursday, reaching $2.64. The company’s stock had a trading volume of 319,874 shares, compared to its average volume of 495,938. Melinta Therapeutics has a 1 year low of $2.25 and a 1 year high of $18.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.34. The firm has a market capitalization of $143.41 million, a PE ratio of -0.12 and a beta of 1.45.
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. Melinta Therapeutics had a negative return on equity of 68.68% and a negative net margin of 202.31%. The business had revenue of $34.08 million during the quarter, compared to analyst estimates of $17.24 million. On average, sell-side analysts forecast that Melinta Therapeutics will post -3.72 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of MLNT. Northern Trust Corp grew its position in shares of Melinta Therapeutics by 48.0% during the first quarter. Northern Trust Corp now owns 166,112 shares of the biotechnology company’s stock valued at $1,229,000 after purchasing an additional 53,889 shares in the last quarter. BlackRock Inc. grew its position in shares of Melinta Therapeutics by 41.8% during the first quarter. BlackRock Inc. now owns 857,398 shares of the biotechnology company’s stock valued at $6,344,000 after purchasing an additional 252,943 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Melinta Therapeutics by 10.6% during the first quarter. Dimensional Fund Advisors LP now owns 476,212 shares of the biotechnology company’s stock valued at $3,524,000 after purchasing an additional 45,784 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Melinta Therapeutics by 48.5% during the first quarter. California State Teachers Retirement System now owns 23,035 shares of the biotechnology company’s stock valued at $170,000 after purchasing an additional 7,520 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Melinta Therapeutics by 60.2% during the first quarter. Millennium Management LLC now owns 446,713 shares of the biotechnology company’s stock valued at $3,306,000 after purchasing an additional 167,798 shares in the last quarter. Hedge funds and other institutional investors own 70.68% 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, 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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