Shares of Melinta Therapeutics Inc (NASDAQ:MLNT) have earned a consensus rating of “Hold” from the eight analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $10.00.
MLNT has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Melinta Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday. HC Wainwright restated a “hold” rating on shares of Melinta Therapeutics in a research report on Friday, October 25th. Finally, ValuEngine upgraded shares of Melinta Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its holdings in Melinta Therapeutics by 253.2% in the second quarter. Bank of Montreal Can now owns 5,503 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 3,945 shares in the last quarter. Morgan Stanley increased its holdings in Melinta Therapeutics by 82.9% in the second quarter. Morgan Stanley now owns 10,822 shares of the biotechnology company’s stock valued at $72,000 after buying an additional 4,906 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new position in Melinta Therapeutics in the second quarter valued at $142,000. Paloma Partners Management Co purchased a new position in Melinta Therapeutics in the second quarter valued at $205,000. Finally, Royal Bank of Canada purchased a new position in Melinta Therapeutics in the second quarter valued at $267,000. 18.02% of the stock is owned by institutional investors.
Melinta Therapeutics (NASDAQ:MLNT) last posted its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($15.67) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.55) by ($13.12). Melinta Therapeutics had a negative return on equity of 101.29% and a negative net margin of 393.39%. The company had revenue of $15.87 million for the quarter, compared to analyst estimates of $15.51 million. Equities analysts forecast that Melinta Therapeutics will post -6.85 EPS 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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