Melinta Therapeutics (NASDAQ:MLNT) Trading 6.5% Higher

Melinta Therapeutics Inc (NASDAQ:MLNT) shares traded up 6.5% during mid-day trading on Wednesday . The company traded as high as $4.20 and last traded at $4.43, 5,666 shares changed hands during mid-day trading. A decline of 99% from the average session volume of 444,296 shares. The stock had previously closed at $4.16.

A number of equities analysts have recently issued reports on the company. Gabelli reiterated a “sell” rating on shares of Melinta Therapeutics in a report on Thursday, June 20th. WBB Securities cut Melinta Therapeutics from a “speculative buy” rating to a “hold” rating in a report on Thursday, June 20th. Cantor Fitzgerald set a $15.00 price objective on Melinta Therapeutics and gave the stock a “buy” rating in a report on Wednesday, June 19th. HC Wainwright cut Melinta Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, August 12th. Finally, Zacks Investment Research cut Melinta Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, August 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.21.

The company has a market capitalization of $60.99 million, a PE ratio of -0.26 and a beta of 4.54. The firm has a fifty day moving average of $3.11 and a two-hundred day moving average of $3.69. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.11.

Melinta Therapeutics (NASDAQ:MLNT) last issued its earnings results on Friday, August 9th. The biotechnology company reported ($3.07) earnings per share for the quarter, missing the consensus estimate of ($2.57) by ($0.50). The company had revenue of $15.96 million for the quarter, compared to analysts’ expectations of $14.00 million. Melinta Therapeutics had a negative net margin of 135.23% and a negative return on equity of 60.39%. On average, equities analysts expect that Melinta Therapeutics Inc will post -9.73 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can boosted its holdings in Melinta Therapeutics by 253.2% during the 2nd quarter. Bank of Montreal Can now owns 5,503 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 3,945 shares during the period. Morgan Stanley boosted its holdings in Melinta Therapeutics by 82.9% during the 2nd quarter. Morgan Stanley now owns 10,822 shares of the biotechnology company’s stock valued at $72,000 after acquiring an additional 4,906 shares during the period. Condor Capital Management purchased a new stake in Melinta Therapeutics during the 2nd quarter valued at about $93,000. Parametric Portfolio Associates LLC purchased a new stake in Melinta Therapeutics during the 2nd quarter valued at about $142,000. Finally, Paloma Partners Management Co purchased a new stake in Melinta Therapeutics during the 2nd quarter valued at about $205,000. Institutional investors own 19.47% of the company’s stock.

Melinta Therapeutics Company Profile (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, 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.

Recommended Story: Asset Allocation and Your Retirement

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.