Wall Street brokerages expect Melinta Therapeutics Inc (NASDAQ:MLNT) to post earnings of ($2.73) per share for the current quarter, according to Zacks. Two analysts have issued estimates for Melinta Therapeutics’ earnings, with the lowest EPS estimate coming in at ($3.59) and the highest estimate coming in at ($1.86). Melinta Therapeutics reported earnings per share of ($4.75) in the same quarter last year, which suggests a positive year-over-year growth rate of 42.5%. The business is scheduled to report its next quarterly earnings results on Tuesday, May 14th.
On average, analysts expect that Melinta Therapeutics will report full year earnings of ($10.31) per share for the current financial year, with EPS estimates ranging from ($13.26) to ($7.91). For the next fiscal year, analysts expect that the company will post earnings of ($5.57) per share, with EPS estimates ranging from ($9.69) to ($2.80). Zacks’ EPS averages are a mean average based on a survey of research firms that cover Melinta Therapeutics.
MLNT has been the topic of several research analyst reports. Zacks Investment Research cut Melinta Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. ValuEngine cut Melinta Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 23rd. Gabelli cut Melinta Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, December 20th. Finally, LADENBURG THALM/SH SH restated a “buy” rating and set a $70.00 target price on shares of Melinta Therapeutics in a report on Tuesday, December 18th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $55.00.
Several institutional investors have recently modified their holdings of the company. Marshall Wace North America L.P. acquired a new position in shares of Melinta Therapeutics during the 3rd quarter worth approximately $48,000. Geode Capital Management LLC boosted its holdings in shares of Melinta Therapeutics by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 418,753 shares of the biotechnology company’s stock worth $331,000 after purchasing an additional 13,337 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Melinta Therapeutics by 11.3% during the 4th 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 last quarter. Rhumbline Advisers boosted its holdings 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. Finally, TIAA CREF Investment Management LLC boosted 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 purchasing an additional 17,360 shares during the last quarter.
MLNT stock opened at $4.58 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.12. Melinta Therapeutics has a 12-month low of $3.20 and a 12-month high of $46.00. The stock has a market capitalization of $51.43 million, a P/E ratio of -0.26 and a beta of 2.22.
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, 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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