Melinta Therapeutics (MLNT) Reaches New 52-Week Low at $1.88

Shares of Melinta Therapeutics, Inc. (NASDAQ:MLNT) hit a new 52-week low during trading on Thursday . The company traded as low as $1.88 and last traded at $1.91, with a volume of 8603 shares trading hands. The stock had previously closed at $2.15.

A number of analysts have commented on the stock. HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Melinta Therapeutics in a research note on Monday, September 24th. Zacks Investment Research lowered shares of Melinta Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, September 13th. Jefferies Financial Group assumed coverage on shares of Melinta Therapeutics in a research note on Tuesday, September 11th. They set a “buy” rating and a $15.00 price target for the company. Cantor Fitzgerald set a $15.00 price target on shares of Melinta Therapeutics and gave the company a “buy” rating in a research note on Tuesday, September 18th. Finally, Gabelli upgraded shares of Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $11.50 price target for the company in a research note on Monday, October 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Melinta Therapeutics currently has an average rating of “Buy” and a consensus target price of $10.75.

The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $106.44 million, a PE ratio of -0.08 and a beta of 1.35.

Melinta Therapeutics (NASDAQ:MLNT) last posted its earnings results on Wednesday, November 7th. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.05) by $0.55. Melinta Therapeutics had a negative net margin of 202.31% and a negative return on equity of 68.68%. The firm had revenue of $34.08 million during the quarter, compared to analyst estimates of $17.24 million. As a group, equities analysts expect that Melinta Therapeutics, Inc. will post -3.69 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its stake in shares of Melinta Therapeutics by 470.0% in the 2nd quarter. FMR LLC now owns 5,640,305 shares of the biotechnology company’s stock worth $35,816,000 after acquiring an additional 4,650,796 shares in the last quarter. BlackRock Inc. grew its stake in shares of Melinta Therapeutics by 46.3% in the 3rd quarter. BlackRock Inc. now owns 2,425,514 shares of the biotechnology company’s stock worth $9,581,000 after acquiring an additional 767,239 shares in the last quarter. Stonepine Capital Management LLC grew its stake in shares of Melinta Therapeutics by 3,652.1% in the 3rd quarter. Stonepine Capital Management LLC now owns 1,958,595 shares of the biotechnology company’s stock worth $7,736,000 after acquiring an additional 1,906,395 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Melinta Therapeutics by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,770,765 shares of the biotechnology company’s stock worth $6,995,000 after acquiring an additional 76,253 shares in the last quarter. Finally, Sphera Funds Management LTD. grew its stake in shares of Melinta Therapeutics by 64.2% in the 3rd quarter. Sphera Funds Management LTD. now owns 1,616,867 shares of the biotechnology company’s stock worth $6,387,000 after acquiring an additional 632,375 shares in the last quarter. Hedge funds and other institutional investors own 67.56% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Melinta Therapeutics (MLNT) Reaches New 52-Week Low at $1.88” was originally posted by XNewsPress and is the property of of XNewsPress. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this story can be accessed at https://xnewspress.com/news/2018/12/08/melinta-therapeutics-mlnt-reaches-new-52-week-low-at-1-88.html.

About Melinta Therapeutics (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.

Further Reading: Analyst Ratings

Receive News & Ratings for Melinta Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melinta Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply