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