Melinta Therapeutics, Inc. (NASDAQ:MLNT) reached a new 52-week low during trading on Thursday . The stock traded as low as $1.88 and last traded at $1.91, with a volume of 8603 shares changing hands. The stock had previously closed at $2.15.
Several equities research analysts have commented on MLNT shares. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Melinta Therapeutics in a report on Monday, September 24th. Zacks Investment Research raised shares of Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a report on Friday, November 2nd. Cantor Fitzgerald set a $15.00 price objective on shares of Melinta Therapeutics and gave the company a “buy” rating in a report on Tuesday, September 18th. Jefferies Financial Group started coverage on shares of Melinta Therapeutics in a report on Tuesday, September 11th. They set a “buy” rating and a $15.00 price objective on the stock. Finally, Gabelli raised shares of Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $11.50 price objective on the stock in a report on Monday, October 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $10.75.
The firm has a market cap of $106.44 million, a P/E ratio of -0.08 and a beta of 1.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.34.
Melinta Therapeutics (NASDAQ:MLNT) last released its quarterly earnings data on Wednesday, November 7th. The biotechnology company reported ($0.50) EPS for the quarter, beating the Thomson Reuters’ 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 net margin of 202.31% and a negative return on equity of 68.68%. Analysts predict that Melinta Therapeutics, Inc. will post -3.69 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in MLNT. Marshall Wace North America L.P. purchased a new stake in shares of Melinta Therapeutics in the third quarter worth about $48,000. Boenning & Scattergood Inc. lifted its holdings in shares of Melinta Therapeutics by 101.1% in the third quarter. Boenning & Scattergood Inc. now owns 47,750 shares of the biotechnology company’s stock worth $189,000 after buying an additional 24,000 shares in the last quarter. Granite Investment Partners LLC purchased a new stake in shares of Melinta Therapeutics in the second quarter worth about $221,000. Franklin Street Advisors Inc. NC lifted its holdings in shares of Melinta Therapeutics by 411.1% in the third quarter. Franklin Street Advisors Inc. NC now owns 64,650 shares of the biotechnology company’s stock worth $255,000 after buying an additional 52,000 shares in the last quarter. Finally, Stonepine Capital Management LLC purchased a new stake in shares of Melinta Therapeutics in the second quarter worth about $331,000. 67.56% of the stock is currently owned by hedge funds and other institutional investors.
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Melinta Therapeutics Company Profile (NASDAQ:MLNT)
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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