Wall Street analysts expect that Melinta Therapeutics Inc (NASDAQ:MLNT) will post $14.00 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Melinta Therapeutics’ earnings. The highest sales estimate is $14.40 million and the lowest is $13.60 million. Melinta Therapeutics posted sales of $12.02 million during the same quarter last year, which indicates a positive year over year growth rate of 16.5%. The business is expected to report its next quarterly earnings results on Tuesday, August 6th.
On average, analysts expect that Melinta Therapeutics will report full year sales of $62.34 million for the current year, with estimates ranging from $54.93 million to $73.00 million. For the next financial year, analysts anticipate that the firm will post sales of $91.44 million, with estimates ranging from $79.51 million to $102.80 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Melinta Therapeutics.
Melinta Therapeutics (NASDAQ:MLNT) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($2.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.72) by $0.38. Melinta Therapeutics had a negative net margin of 161.27% and a negative return on equity of 61.13%. The company had revenue of $14.08 million during the quarter, compared to the consensus estimate of $16.83 million.
Several brokerages have recently issued reports on MLNT. Cantor Fitzgerald set a $15.00 price target on shares of Melinta Therapeutics and gave the company a “buy” rating in a report on Wednesday, June 19th. Gabelli reissued a “sell” rating on shares of Melinta Therapeutics in a report on Thursday, June 20th. Zacks Investment Research downgraded shares of Melinta Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 27th. WBB Securities downgraded shares of Melinta Therapeutics from a “speculative buy” rating to a “hold” rating in a report on Thursday, June 20th. Finally, HC Wainwright reissued a “buy” rating and set a $13.00 price target (down previously from $45.00) on shares of Melinta Therapeutics in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $28.00.
Shares of MLNT traded down $0.24 during midday trading on Friday, hitting $5.72. 1,607,056 shares of the stock traded hands, compared to its average volume of 5,994,736. Melinta Therapeutics has a 1-year low of $1.62 and a 1-year high of $35.00. The company has a market capitalization of $69.38 million, a price-to-earnings ratio of -0.32 and a beta of 2.64. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.40 and a quick ratio of 1.06. The company’s 50 day simple moving average is $3.03.
A number of hedge funds have recently bought and sold shares of MLNT. Rhumbline Advisers lifted its holdings in Melinta Therapeutics by 59.1% in the fourth 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 period. Algert Global LLC acquired a new stake in Melinta Therapeutics in the first quarter worth about $39,000. Condor Capital Management acquired a new stake in Melinta Therapeutics in the fourth quarter worth about $55,000. Bank of New York Mellon Corp lifted its holdings in Melinta Therapeutics by 11.3% in the fourth quarter. Bank of New York Mellon Corp now owns 142,938 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 14,567 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in Melinta Therapeutics by 431.8% in the fourth quarter. Two Sigma Investments LP now owns 315,905 shares of the biotechnology company’s stock worth $250,000 after purchasing an additional 256,506 shares during the period. 26.81% of the stock is owned by institutional investors and hedge funds.
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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