Wall Street analysts forecast that Melinta Therapeutics Inc (NASDAQ:MLNT) will announce sales of $17.77 million for the current quarter, Zacks reports. Three analysts have issued estimates for Melinta Therapeutics’ earnings, with the highest sales estimate coming in at $21.10 million and the lowest estimate coming in at $15.70 million. Melinta Therapeutics reported sales of $4.23 million in the same quarter last year, which indicates a positive year over year growth rate of 320.1%. The company is expected to issue its next earnings results on Tuesday, March 12th.

On average, analysts expect that Melinta Therapeutics will report full-year sales of $73.10 million for the current fiscal year, with estimates ranging from $57.40 million to $93.00 million. For the next fiscal year, analysts anticipate that the business will post sales of $86.95 million, with estimates ranging from $72.90 million to $101.59 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Melinta Therapeutics.

Several research analysts have issued reports on MLNT shares. Zacks Investment Research upgraded Melinta Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, October 25th. Gabelli raised Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $11.50 price target on the stock in a research report on Monday, October 22nd. They noted that the move was a valuation call. Finally, HC Wainwright dropped their price objective on Melinta Therapeutics from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, October 22nd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $11.04.

Several hedge funds have recently modified their holdings of the stock. Marshall Wace North America L.P. acquired a new position in shares of Melinta Therapeutics during the third quarter worth $48,000. Rhumbline Advisers increased its stake in shares of Melinta Therapeutics by 59.1% during the 4th quarter. Rhumbline Advisers now owns 44,129 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 16,400 shares during the last quarter. Boenning & Scattergood Inc. increased its stake in shares of Melinta Therapeutics by 101.1% during the 3rd quarter. Boenning & Scattergood Inc. now owns 47,750 shares of the biotechnology company’s stock worth $189,000 after purchasing an additional 24,000 shares during the last quarter. Condor Capital Management bought a new position in Melinta Therapeutics in the 4th quarter worth approximately $55,000. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of Melinta Therapeutics by 23.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 90,646 shares of the biotechnology company’s stock worth $358,000 after acquiring an additional 17,360 shares during the last quarter. Institutional investors and hedge funds own 67.15% of the company’s stock.

Melinta Therapeutics stock traded down $0.04 during mid-day trading on Monday, hitting $1.70. The company had a trading volume of 1,536,500 shares, compared to its average volume of 1,536,264. The firm has a market capitalization of $97.47 million, a P/E ratio of -0.08 and a beta of 2.13. Melinta Therapeutics has a 1 year low of $0.64 and a 1 year high of $13.80. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.46.

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.

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