Melinta Therapeutics (MLNT) Reaches New 1-Year Low at $1.88

Melinta Therapeutics, Inc. (NASDAQ:MLNT)’s share price reached 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 traded. The stock had previously closed at $2.15.

A number of research firms recently commented on MLNT. Zacks Investment Research upgraded Melinta Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. Cantor Fitzgerald set a $15.00 price target on Melinta Therapeutics and gave the stock a “buy” rating in a report on Tuesday, September 18th. HC Wainwright assumed coverage on Melinta Therapeutics in a report on Tuesday, September 11th. They set a “buy” rating and a $14.00 price target for the company. Jefferies Financial Group assumed coverage on Melinta Therapeutics in a report on Tuesday, September 11th. They set a “buy” rating and a $15.00 price objective for the company. Finally, Gabelli upgraded Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $11.50 price objective for the company in a report 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 given a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $10.75.

The firm has a market capitalization of $120.44 million, a PE ratio of -0.09 and a beta of 1.35. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.34 and a quick ratio of 1.04.

Melinta Therapeutics (NASDAQ:MLNT) last issued its quarterly earnings data on Wednesday, November 7th. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.55. Melinta Therapeutics had a negative return on equity of 68.68% and a negative net margin of 202.31%. The company had revenue of $34.08 million during the quarter, compared to analysts’ expectations of $17.24 million. On average, equities analysts forecast that Melinta Therapeutics, Inc. will post -3.69 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of MLNT. FMR LLC raised its position in shares of Melinta Therapeutics by 470.0% in the second quarter. FMR LLC now owns 5,640,305 shares of the biotechnology company’s stock valued at $35,816,000 after buying an additional 4,650,796 shares in the last quarter. BlackRock Inc. raised its position in shares of Melinta Therapeutics by 46.3% in the third quarter. BlackRock Inc. now owns 2,425,514 shares of the biotechnology company’s stock valued at $9,581,000 after buying an additional 767,239 shares in the last quarter. Stonepine Capital Management LLC raised its position in shares of Melinta Therapeutics by 3,652.1% in the third quarter. Stonepine Capital Management LLC now owns 1,958,595 shares of the biotechnology company’s stock valued at $7,736,000 after buying an additional 1,906,395 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Melinta Therapeutics by 4.5% in the third quarter. Vanguard Group Inc. now owns 1,770,765 shares of the biotechnology company’s stock valued at $6,995,000 after buying an additional 76,253 shares in the last quarter. Finally, Sphera Funds Management LTD. raised its position in shares of Melinta Therapeutics by 64.2% in the third quarter. Sphera Funds Management LTD. now owns 1,616,867 shares of the biotechnology company’s stock valued at $6,387,000 after buying an additional 632,375 shares in the last quarter. Institutional investors own 67.56% of the company’s stock.

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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.

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