Melinta Therapeutics (NASDAQ:MLNT) Given a $15.00 Price Target at Cantor Fitzgerald

Cantor Fitzgerald set a $15.00 price target on Melinta Therapeutics (NASDAQ:MLNT) in a report released on Wednesday, TipRanks reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

MLNT has been the topic of a number of other reports. ValuEngine cut shares of Melinta Therapeutics from a hold rating to a sell rating in a research note on Friday, March 1st. Gabelli cut shares of Melinta Therapeutics from a hold rating to a sell rating in a research note on Friday, May 10th. Zacks Investment Research cut shares of Melinta Therapeutics from a strong-buy rating to a hold rating in a research note on Wednesday, February 27th. HC Wainwright reaffirmed a buy rating and set a $13.00 price target (down from $45.00) on shares of Melinta Therapeutics in a research note on Thursday. Finally, WBB Securities cut shares of Melinta Therapeutics from a speculative buy rating to a hold rating in a research note on Thursday. Two 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. The stock currently has a consensus rating of Hold and a consensus target price of $28.00.

MLNT traded down $1.13 during trading on Wednesday, hitting $5.28. The stock had a trading volume of 19,126,579 shares, compared to its average volume of 348,605. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.06 and a current ratio of 1.40. The stock has a market capitalization of $23.32 million, a P/E ratio of -0.30 and a beta of 2.64. Melinta Therapeutics has a twelve month low of $1.62 and a twelve month high of $42.67.

Melinta Therapeutics (NASDAQ:MLNT) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($2.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.72) by $0.38. The company had revenue of $14.08 million for the quarter, compared to analysts’ expectations of $16.83 million. Melinta Therapeutics had a negative net margin of 161.27% and a negative return on equity of 61.13%. Sell-side analysts predict that Melinta Therapeutics will post -9.88 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Algert Global LLC acquired a new position in shares of Melinta Therapeutics during the 1st quarter worth $39,000. Geode Capital Management LLC grew its stake in Melinta Therapeutics by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 418,753 shares of the biotechnology company’s stock valued at $331,000 after acquiring an additional 13,337 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Melinta Therapeutics by 11.3% in the 4th quarter. Bank of New York Mellon Corp now owns 142,938 shares of the biotechnology company’s stock valued at $113,000 after acquiring an additional 14,567 shares during the last quarter. Rhumbline Advisers grew its stake in Melinta Therapeutics by 59.1% in the 4th quarter. Rhumbline Advisers now owns 44,129 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 16,400 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in Melinta Therapeutics by 23.7% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 90,646 shares of the biotechnology company’s stock valued at $358,000 after acquiring an additional 17,360 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors and hedge funds.

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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