Melinta Therapeutics, Inc. (NASDAQ:MLNT) – Equities researchers at Jefferies Financial Group reduced their FY2022 EPS estimates for shares of Melinta Therapeutics in a research report issued on Wednesday, November 7th. Jefferies Financial Group analyst D. Hoang now anticipates that the biotechnology company will earn $1.08 per share for the year, down from their prior forecast of $1.24. Jefferies Financial Group currently has a “Buy” rating and a $15.00 target price on the stock.
Melinta Therapeutics (NASDAQ:MLNT) last announced its earnings results on Wednesday, November 7th. The biotechnology company reported ($0.50) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.05) by $0.55. The company had revenue of $34.08 million during the quarter, compared to the consensus estimate of $17.24 million. Melinta Therapeutics had a negative net margin of 202.31% and a negative return on equity of 68.68%.
Shares of MLNT opened at $2.78 on Friday. Melinta Therapeutics has a twelve month low of $2.25 and a twelve month high of $18.20. The company has a current ratio of 1.34, a quick ratio of 1.65 and a debt-to-equity ratio of 0.46.
Several large investors have recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Melinta Therapeutics by 470.0% during the second quarter. FMR LLC now owns 5,640,305 shares of the biotechnology company’s stock worth $35,816,000 after buying an additional 4,650,796 shares during the period. BlackRock Inc. raised its holdings in shares of Melinta Therapeutics by 46.3% during the third quarter. BlackRock Inc. now owns 2,425,514 shares of the biotechnology company’s stock worth $9,581,000 after purchasing an additional 767,239 shares during the last quarter. First Manhattan Co. raised its holdings in shares of Melinta Therapeutics by 30.9% during the third quarter. First Manhattan Co. now owns 1,570,300 shares of the biotechnology company’s stock worth $6,202,000 after purchasing an additional 370,300 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Melinta Therapeutics by 160.1% during the second quarter. Millennium Management LLC now owns 1,161,861 shares of the biotechnology company’s stock worth $7,378,000 after purchasing an additional 715,148 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Melinta Therapeutics by 13.7% during the second quarter. Dimensional Fund Advisors LP now owns 541,583 shares of the biotechnology company’s stock worth $3,439,000 after purchasing an additional 65,371 shares during the last quarter. Institutional investors and hedge funds own 69.40% 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, 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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