Melinta Therapeutics (NASDAQ:MLNT) has been assigned a $15.00 price target by Cantor Fitzgerald in a report issued on Tuesday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 233.33% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $6.75 price target for the company in a report on Wednesday, July 18th. WBB Securities raised Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a report on Friday, May 25th. HC Wainwright started coverage on Melinta Therapeutics in a report on Tuesday, September 11th. They set a “buy” rating and a $14.00 price target for the company. Jefferies Financial Group started coverage on Melinta Therapeutics in a report on Tuesday, September 11th. They set a “buy” rating and a $15.00 price target for the company. Finally, ValuEngine raised Melinta Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Melinta Therapeutics currently has an average rating of “Hold” and an average target price of $10.13.

Shares of Melinta Therapeutics stock opened at $4.50 on Tuesday. Melinta Therapeutics has a 1 year low of $3.95 and a 1 year high of $18.20. The firm has a market cap of $252.04 million, a price-to-earnings ratio of -0.21 and a beta of 1.16. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.97 and a quick ratio of 1.65.

Melinta Therapeutics (NASDAQ:MLNT) last announced its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.14) by ($0.24). Melinta Therapeutics had a negative net margin of 348.51% and a negative return on equity of 67.60%. The business had revenue of $12.02 million for the quarter, compared to analyst estimates of $12.06 million. sell-side analysts forecast that Melinta Therapeutics will post -3.96 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vatera Holdings LLC lifted its holdings in shares of Melinta Therapeutics by 29.7% during the first quarter. Vatera Holdings LLC now owns 8,729,459 shares of the biotechnology company’s stock worth $64,598,000 after buying an additional 2,000,000 shares in the last quarter. FMR LLC lifted its holdings in shares of Melinta Therapeutics by 470.0% during the second quarter. FMR LLC now owns 5,640,305 shares of the biotechnology company’s stock worth $35,816,000 after buying an additional 4,650,796 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Melinta Therapeutics by 93.4% during the second quarter. BlackRock Inc. now owns 1,658,275 shares of the biotechnology company’s stock worth $10,530,000 after buying an additional 800,877 shares in the last quarter. First Manhattan Co. acquired a new stake in shares of Melinta Therapeutics during the second quarter worth $7,620,000. Finally, Millennium Management LLC lifted its holdings in shares of Melinta Therapeutics by 160.1% during the second quarter. Millennium Management LLC now owns 1,161,861 shares of the biotechnology company’s stock worth $7,378,000 after buying an additional 715,148 shares in the last quarter. 68.60% of the stock is owned by institutional investors.

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, 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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Analyst Recommendations for Melinta Therapeutics (NASDAQ:MLNT)

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