Melinta Therapeutics Inc (NASDAQ:MLNT) Expected to Post Earnings of -$2.39 Per Share

Analysts forecast that Melinta Therapeutics Inc (NASDAQ:MLNT) will report earnings of ($2.39) per share for the current quarter, according to Zacks. Two analysts have issued estimates for Melinta Therapeutics’ earnings, with estimates ranging from ($2.48) to ($2.29). Melinta Therapeutics reported earnings of ($2.50) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 4.4%. The company is expected to announce its next earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that Melinta Therapeutics will report full year earnings of ($9.72) per share for the current financial year, with EPS estimates ranging from ($11.07) to ($6.05). For the next fiscal year, analysts expect that the business will post earnings of ($5.36) per share, with EPS estimates ranging from ($7.62) to ($3.02). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Melinta Therapeutics.

Melinta Therapeutics (NASDAQ:MLNT) last announced its quarterly earnings results on Friday, August 9th. The biotechnology company reported ($3.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.57) by ($0.50). The firm had revenue of $15.96 million for the quarter, compared to analysts’ expectations of $14.00 million. Melinta Therapeutics had a negative return on equity of 60.39% and a negative net margin of 135.23%.

Several research analysts recently issued reports on the company. HC Wainwright restated a “hold” rating on shares of Melinta Therapeutics in a research report on Friday, October 25th. ValuEngine downgraded Melinta Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Zacks Investment Research upgraded Melinta Therapeutics from a “hold” rating to a “strong-buy” rating and set a $3.50 price objective for the company in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Melinta Therapeutics currently has an average rating of “Hold” and an average target price of $21.30.

Institutional investors have recently modified their holdings of the stock. Bank of Montreal Can raised its position in shares of Melinta Therapeutics by 253.2% during the 2nd quarter. Bank of Montreal Can now owns 5,503 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 3,945 shares during the last quarter. Morgan Stanley raised its position in shares of Melinta Therapeutics by 82.9% during the 2nd quarter. Morgan Stanley now owns 10,822 shares of the biotechnology company’s stock worth $72,000 after purchasing an additional 4,906 shares during the last quarter. Condor Capital Management acquired a new position in shares of Melinta Therapeutics during the 2nd quarter worth approximately $93,000. Parametric Portfolio Associates LLC acquired a new position in shares of Melinta Therapeutics during the 2nd quarter worth approximately $142,000. Finally, Paloma Partners Management Co acquired a new position in shares of Melinta Therapeutics during the 2nd quarter worth approximately $205,000. Hedge funds and other institutional investors own 19.46% of the company’s stock.

Shares of NASDAQ:MLNT traded down $0.02 during trading on Friday, hitting $2.19. 255,200 shares of the stock were exchanged, compared to its average volume of 1,090,574. The company has a fifty day moving average price of $3.56 and a two-hundred day moving average price of $3.60. The company has a market cap of $40.43 million, a PE ratio of -0.12 and a beta of 4.43. 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 has a 12-month low of $1.62 and a 12-month high of $14.65.

Melinta Therapeutics Company Profile

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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Earnings History and Estimates for Melinta Therapeutics (NASDAQ:MLNT)

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