Melinta Therapeutics, Inc. (NASDAQ:MLNT)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $3.80 and last traded at $4.00, with a volume of 13346 shares trading hands. The stock had previously closed at $4.15.

A number of research analysts have weighed in on MLNT shares. Cantor Fitzgerald started coverage on shares of Melinta Therapeutics in a research note on Sunday, July 1st. They issued a “buy” rating and a $15.00 price objective on the stock. Zacks Investment Research raised shares of Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a research note on Wednesday, July 18th. ValuEngine raised shares of Melinta Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Jefferies Financial Group started coverage on shares of Melinta Therapeutics in a research note on Tuesday, September 11th. They issued a “buy” rating and a $15.00 price objective on the stock. Finally, HC Wainwright started coverage on shares of Melinta Therapeutics in a research note on Tuesday, September 11th. They issued a “buy” rating and a $14.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $10.13.

The company has a market capitalization of $249.24 million, a price-to-earnings ratio of -0.19 and a beta of 1.16. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.65 and a current ratio of 1.97.

Melinta Therapeutics (NASDAQ:MLNT) last posted its earnings results on Tuesday, August 7th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.14) by ($0.24). The business 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%. analysts expect that Melinta Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Highbridge Capital Management LLC purchased a new position in shares of Melinta Therapeutics in the first quarter worth about $108,000. Engineers Gate Manager LP purchased a new position in Melinta Therapeutics during the first quarter valued at approximately $157,000. California State Teachers Retirement System grew its stake in Melinta Therapeutics by 48.5% during the first quarter. California State Teachers Retirement System now owns 23,035 shares of the biotechnology company’s stock valued at $170,000 after acquiring an additional 7,520 shares in the last quarter. Granite Investment Partners LLC purchased a new position in Melinta Therapeutics during the second quarter valued at approximately $221,000. Finally, Stonepine Capital Management LLC purchased a new position in Melinta Therapeutics during the second quarter valued at approximately $331,000. Hedge funds and other institutional investors own 68.60% of the company’s stock.

Melinta Therapeutics Company Profile (NASDAQ:MLNT)

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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