Zacks: Analysts Anticipate Melinta Therapeutics, Inc. (MLNT) Will Announce Earnings of -$0.83 Per Share

Analysts expect Melinta Therapeutics, Inc. (NASDAQ:MLNT) to report ($0.83) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Melinta Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.64) and the lowest estimate coming in at ($1.02). Melinta Therapeutics posted earnings of ($1.48) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 43.9%. The company is scheduled to issue its next quarterly earnings results on Tuesday, March 12th.

On average, analysts expect that Melinta Therapeutics will report full-year earnings of ($3.69) per share for the current financial year, with EPS estimates ranging from ($4.19) to ($3.25). For the next fiscal year, analysts anticipate that the firm will report earnings of ($1.79) per share, with EPS estimates ranging from ($2.24) to ($0.90). Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Melinta Therapeutics.

Melinta Therapeutics (NASDAQ:MLNT) last released its earnings results on Wednesday, November 7th. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.05) by $0.55. The company 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%.

MLNT has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Melinta Therapeutics in a research note on Monday, September 24th. Zacks Investment Research upgraded shares of Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research note on Friday, November 2nd. Cantor Fitzgerald set a $15.00 price target on shares of Melinta Therapeutics and gave the company a “buy” rating in a research note on Tuesday, September 18th. Jefferies Financial Group initiated coverage on shares of Melinta Therapeutics in a research note on Tuesday, September 11th. They set a “buy” rating and a $15.00 price target for the company. Finally, Gabelli upgraded shares of 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. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. Melinta Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $10.75.

A number of hedge funds have recently made changes to their positions in MLNT. BlackRock Inc. grew its stake in shares of Melinta Therapeutics by 41.8% in the 1st quarter. BlackRock Inc. now owns 857,398 shares of the biotechnology company’s stock worth $6,344,000 after acquiring an additional 252,943 shares in the last quarter. First Manhattan Co. bought a new stake in shares of Melinta Therapeutics in the 2nd quarter worth $7,620,000. Granite Investment Partners LLC bought a new stake in shares of Melinta Therapeutics in the 2nd quarter worth $221,000. Bank of New York Mellon Corp grew its stake in shares of Melinta Therapeutics by 64.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 92,030 shares of the biotechnology company’s stock worth $584,000 after acquiring an additional 36,155 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Melinta Therapeutics by 134.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 175,356 shares of the biotechnology company’s stock worth $1,114,000 after acquiring an additional 100,688 shares in the last quarter. Institutional investors and hedge funds own 70.68% of the company’s stock.

MLNT stock traded down $0.21 during midday trading on Friday, reaching $2.12. 703,907 shares of the company’s stock traded hands, compared to its average volume of 364,497. The firm has a market capitalization of $118.76 million, a PE ratio of -0.10 and a beta of 1.45. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. Melinta Therapeutics has a 52 week low of $2.05 and a 52 week high of $18.20.

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.

Further Reading: Hedge Funds

Get a free copy of the Zacks research report on Melinta Therapeutics (MLNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Melinta Therapeutics (NASDAQ:MLNT)

Receive News & Ratings for Melinta Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melinta Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit