Melinta Therapeutics, Inc. (NASDAQ:MLNT) has been assigned an average recommendation of “Hold” from the ten brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $13.00.

MLNT has been the subject of several recent analyst reports. Zacks Investment Research lowered Melinta Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, September 13th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Melinta Therapeutics in a research report on Monday. Jefferies Financial Group initiated coverage on Melinta Therapeutics in a research report on Tuesday, September 11th. They issued a “buy” rating and a $15.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Melinta Therapeutics in a research report on Monday, July 2nd. Finally, ValuEngine raised Melinta Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Northern Trust Corp raised its position in shares of Melinta Therapeutics by 52.7% in the 2nd quarter. Northern Trust Corp now owns 253,587 shares of the biotechnology company’s stock worth $1,610,000 after purchasing an additional 87,475 shares during the last quarter. Bank of New York Mellon Corp raised its position in 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 buying an additional 36,155 shares during the last quarter. Granahan Investment Management Inc. MA purchased a new position in Melinta Therapeutics in the 2nd quarter worth about $1,932,000. Millennium Management LLC raised its position in Melinta Therapeutics by 160.1% in the 2nd 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 during the last quarter. Finally, Stonepine Capital Management LLC purchased a new position in Melinta Therapeutics in the 2nd quarter worth about $331,000. 68.60% of the stock is owned by hedge funds and other institutional investors.

MLNT opened at $4.15 on Wednesday. The company has a quick ratio of 1.65, a current ratio of 1.97 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $252.04 million, a PE ratio of -0.19 and a beta of 1.16. Melinta Therapeutics has a 1 year low of $3.95 and a 1 year high of $18.20.

Melinta Therapeutics (NASDAQ:MLNT) last posted 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). The company had revenue of $12.02 million during the quarter, compared to analysts’ expectations of $12.06 million. Melinta Therapeutics had a negative return on equity of 67.60% and a negative net margin of 348.51%. sell-side analysts forecast that Melinta Therapeutics will post -3.96 earnings per share for the current fiscal 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, 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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