Several other equities analysts have also recently commented on MLNT. Jefferies Financial Group cut Melinta Therapeutics from a buy rating to a hold rating and cut their price target for the company from $14.00 to $5.00 in a report on Friday, May 10th. JPMorgan Chase & Co. cut Melinta Therapeutics from a neutral rating to an underweight rating in a report on Friday, June 14th. Cantor Fitzgerald set a $15.00 target price on Melinta Therapeutics and gave the stock a buy rating in a report on Wednesday, June 19th. Zacks Investment Research cut Melinta Therapeutics from a buy rating to a hold rating in a report on Saturday, August 17th. Finally, Gabelli reissued a sell rating on shares of Melinta Therapeutics in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $27.21.
Melinta Therapeutics stock traded up $0.11 during trading hours on Wednesday, hitting $2.33. The stock had a trading volume of 74,605 shares, compared to its average volume of 410,549. The company has a 50-day moving average of $3.11 and a two-hundred day moving average of $3.90. 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 company has a market cap of $30.53 million, a PE ratio of -0.13 and a beta of 4.40. Melinta Therapeutics has a fifty-two week low of $1.62 and a fifty-two week high of $24.90.
Melinta Therapeutics (NASDAQ:MLNT) last posted its quarterly earnings results on Friday, August 9th. The biotechnology company reported ($3.07) EPS for the quarter, missing the consensus estimate of ($2.57) by ($0.50). The firm had revenue of $15.96 million during the quarter, compared to analyst estimates 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, analysts forecast that Melinta Therapeutics will post -9.82 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MLNT. Deutsche Bank AG boosted its position in Melinta Therapeutics by 979.8% in the 4th quarter. Deutsche Bank AG now owns 751,625 shares of the biotechnology company’s stock valued at $595,000 after buying an additional 682,014 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Melinta Therapeutics by 97.2% in the second quarter. Vanguard Group Inc. now owns 442,455 shares of the biotechnology company’s stock valued at $2,942,000 after acquiring an additional 218,085 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Melinta Therapeutics by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 418,753 shares of the biotechnology company’s stock valued at $331,000 after acquiring an additional 13,337 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Melinta Therapeutics by 90.7% in the second quarter. Renaissance Technologies LLC now owns 243,932 shares of the biotechnology company’s stock valued at $1,622,000 after acquiring an additional 116,038 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Melinta Therapeutics by 11.3% in the fourth quarter. Bank of New York Mellon Corp now owns 142,938 shares of the biotechnology company’s stock valued at $113,000 after acquiring an additional 14,567 shares during the last quarter. Institutional investors and hedge funds own 17.67% of the company’s stock.
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.
Further Reading: Coverage Ratio
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