Wall Street analysts predict that Melinta Therapeutics, Inc. (NASDAQ:MLNT) will post sales of $3.28 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Melinta Therapeutics’ earnings, with the highest sales estimate coming in at $4.57 million and the lowest estimate coming in at $2.00 million. Melinta Therapeutics posted sales of $7.95 million during the same quarter last year, which suggests a negative year over year growth rate of 58.7%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that Melinta Therapeutics will report full year sales of $3.28 million for the current year, with estimates ranging from $9.00 million to $12.02 million. For the next year, analysts expect that the firm will post sales of $53.90 million per share, with estimates ranging from $5.00 million to $93.69 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Melinta Therapeutics.
MLNT has been the topic of several research analyst reports. Ladenburg Thalmann Financial Services upgraded shares of Melinta Therapeutics from a “neutral” rating to a “buy” rating in a research note on Thursday, November 30th. Gabelli upgraded shares of Melinta Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, November 30th. Zacks Investment Research raised Melinta Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, November 16th. ValuEngine raised Melinta Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Robert W. Baird raised Melinta Therapeutics from an “underperform” rating to a “neutral” rating and set a $2.00 target price for the company in a research report on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $3.56.
In other news, Director Vatera Healthcare Partners Llc bought 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 31.50% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of MLNT. American International Group Inc. bought a new position in shares of Melinta Therapeutics during the fourth quarter valued at $102,000. Bank of Montreal Can bought a new position in shares of Melinta Therapeutics during the fourth quarter valued at $123,000. Wells Fargo & Company MN bought a new position in shares of Melinta Therapeutics during the fourth quarter valued at $123,000. The Manufacturers Life Insurance Company bought a new position in shares of Melinta Therapeutics during the fourth quarter valued at $133,000. Finally, Rhumbline Advisers bought a new position in shares of Melinta Therapeutics during the fourth quarter valued at $161,000.
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Melinta Therapeutics Company Profile
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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