Melinta Therapeutics (MLNT) Downgraded by Zacks Investment Research to “Sell”

Melinta Therapeutics (NASDAQ:MLNT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

According to Zacks, “Melinta Therapeutics, Inc. develops and commercializes novel antibiotics designed to provide new and better therapeutic solutions. Melinta’s lead product is Baxdela, an antibiotic approved by the US FDA for use in the treatment of acute bacterial skin and skin structure infections (ABSSSI). Melinta also has an extensive pipeline of preclinical and clinical stage products that were developed internally or assumed under the 2017 acquisition of Cempra, Inc. This pipeline includes many important classes of antibiotics, each targeted at a different segment of the anti-infective market. Melinta is headquartered in New Haven, CT. “

Several other research analysts also recently commented on the company. Jefferies Group reissued a “neutral” rating on shares of Melinta Therapeutics in a research note on Thursday, October 26th. Robert W. Baird raised Melinta Therapeutics from an “underperform” rating to a “neutral” rating and set a $2.00 price objective for the company in a research note on Wednesday, November 1st. Ladenburg Thalmann Financial Services raised Melinta Therapeutics from a “neutral” rating to a “buy” rating in a research note on Thursday, November 30th. ValuEngine downgraded Melinta Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, December 1st. Finally, Gabelli raised Melinta Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, November 30th. Three analysts have rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Melinta Therapeutics currently has an average rating of “Hold” and a consensus price target of $3.56.

Melinta Therapeutics (NASDAQ MLNT) opened at $12.20 on Thursday. Melinta Therapeutics has a 52 week low of $10.25 and a 52 week high of $24.25. The company has a current ratio of 11.49, a quick ratio of 11.49 and a debt-to-equity ratio of 0.03.

In other news, Director Vatera Healthcare Partners Llc acquired 5,777,778 shares of Melinta Therapeutics stock in a transaction that occurred on Friday, January 5th. The stock was purchased at an average cost of $13.50 per share, with a total value of $78,000,003.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 31.50% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. American International Group Inc. acquired a new stake in shares of Melinta Therapeutics in the 4th quarter worth $102,000. Bank of Montreal Can acquired a new stake in shares of Melinta Therapeutics in the 4th quarter worth $123,000. Wells Fargo & Company MN acquired a new stake in shares of Melinta Therapeutics in the 4th quarter worth $123,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Melinta Therapeutics in the 4th quarter worth $133,000. Finally, Rhumbline Advisers acquired a new stake in shares of Melinta Therapeutics in the 4th quarter worth $161,000.

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About Melinta Therapeutics

Melinta Therapeutics, Inc develops and commercializes novel antibiotics designed to provide therapeutic solutions. The Company’s lead product is Baxdela, an antibiotic approved by the United States food and drug administration (FDA) for use in the treatment of acute bacterial skin and skin structure infections (ABSSSI).

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