HC Wainwright Downgrades Melinta Therapeutics (NASDAQ:MLNT) to Neutral

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HC Wainwright cut shares of Melinta Therapeutics (NASDAQ:MLNT) from a buy rating to a neutral rating in a research report report published on Monday, BenzingaRatingsTable reports.

A number of other research analysts also recently issued reports on MLNT. JPMorgan Chase & Co. downgraded shares of Melinta Therapeutics from a neutral rating to an underweight rating in a research report on Friday, June 14th. Gabelli restated a sell rating on shares of Melinta Therapeutics in a research report on Thursday, June 20th. Cantor Fitzgerald set a $15.00 target price on shares of Melinta Therapeutics and gave the company a buy rating in a research report on Wednesday, June 19th. WBB Securities downgraded shares of Melinta Therapeutics from a speculative buy rating to a hold rating in a research report on Thursday, June 20th. Finally, ValuEngine upgraded shares of Melinta Therapeutics from a sell rating to a hold rating in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Melinta Therapeutics has a consensus rating of Hold and an average target price of $27.21.

NASDAQ MLNT opened at $2.34 on Monday. The company has a market capitalization of $32.18 million, a PE ratio of -0.13 and a beta of 4.30. The company has a fifty day moving average of $4.60 and a 200 day moving average of $3.86. Melinta Therapeutics has a 1 year low of $1.62 and a 1 year high of $24.90. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.40 and a quick ratio of 1.06.

Melinta Therapeutics (NASDAQ:MLNT) last posted its earnings results on Friday, August 9th. The biotechnology company reported ($3.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.57) by ($0.50). The business had revenue of $15.96 million for the quarter, compared to analyst estimates of $14.00 million. Melinta Therapeutics had a negative net margin of 135.23% and a negative return on equity of 55.97%. Research analysts expect that Melinta Therapeutics will post -9.57 earnings per share for the current year.

Several institutional investors have recently modified their holdings of MLNT. Bank of Montreal Can raised its position in shares of Melinta Therapeutics by 253.2% in the second quarter. Bank of Montreal Can now owns 5,503 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 3,945 shares during the period. Algert Global LLC acquired a new position in shares of Melinta Therapeutics in the first quarter worth about $39,000. Morgan Stanley raised its position in shares of Melinta Therapeutics by 82.9% in the second quarter. Morgan Stanley now owns 10,822 shares of the biotechnology company’s stock worth $72,000 after acquiring an additional 4,906 shares during the period. Condor Capital Management acquired a new position in shares of Melinta Therapeutics in the second quarter worth about $93,000. Finally, Bank of New York Mellon Corp raised its position in shares of 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 acquiring an additional 14,567 shares during the period. Institutional investors and hedge funds own 26.73% of the company’s stock.

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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Analyst Recommendations for Melinta Therapeutics (NASDAQ:MLNT)

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