Analysts Set Melinta Therapeutics Inc (NASDAQ:MLNT) Price Target at $23.19

Melinta Therapeutics Inc (NASDAQ:MLNT) has earned a consensus rating of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $30.00.

MLNT has been the subject of several recent research reports. Zacks Investment Research lowered Melinta Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, August 17th. ValuEngine raised Melinta Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. Cantor Fitzgerald set a $15.00 target price on Melinta Therapeutics and gave the company a “buy” rating in a report on Wednesday, June 19th. Gabelli reaffirmed a “sell” rating on shares of Melinta Therapeutics in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. lowered Melinta Therapeutics from a “neutral” rating to an “underweight” rating in a report on Friday, June 14th.

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can grew its holdings in Melinta Therapeutics by 253.2% in the 2nd quarter. Bank of Montreal Can now owns 5,503 shares of the biotechnology company’s stock worth $37,000 after buying an additional 3,945 shares in the last quarter. Algert Global LLC bought a new position in Melinta Therapeutics in the 1st quarter worth approximately $39,000. Morgan Stanley grew its holdings in Melinta Therapeutics by 82.9% in the 2nd quarter. Morgan Stanley now owns 10,822 shares of the biotechnology company’s stock worth $72,000 after buying an additional 4,906 shares in the last quarter. Condor Capital Management bought a new position in Melinta Therapeutics in the 2nd quarter worth approximately $93,000. Finally, Bank of New York Mellon Corp grew its holdings in Melinta Therapeutics by 11.3% in the 4th quarter. Bank of New York Mellon Corp now owns 142,938 shares of the biotechnology company’s stock worth $113,000 after buying an additional 14,567 shares in the last quarter. 17.67% of the stock is owned by institutional investors and hedge funds.

NASDAQ MLNT traded down $0.05 on Friday, hitting $2.47. 354,057 shares of the stock traded hands, compared to its average volume of 423,418. The stock has a 50-day moving average of $3.89 and a 200 day moving average of $3.86. Melinta Therapeutics has a twelve month low of $1.62 and a twelve month high of $24.90. The company has a market capitalization of $34.51 million, a P/E ratio of -0.14 and a beta of 4.30. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.11.

Melinta Therapeutics (NASDAQ:MLNT) last posted its earnings results on Friday, August 9th. The biotechnology company reported ($3.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.57) by ($0.50). The company had revenue of $15.96 million for the quarter, compared to the consensus estimate of $14.00 million. Melinta Therapeutics had a negative net margin of 135.23% and a negative return on equity of 60.39%. As a group, equities research analysts expect that Melinta Therapeutics will post -9.82 earnings per share for the current year.

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, 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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Analyst Recommendations for Melinta Therapeutics (NASDAQ:MLNT)

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