Melinta Therapeutics (MLNT) Stock Rating Upgraded by Zacks Investment Research

Melinta Therapeutics (NASDAQ:MLNT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $1.25 price target on the biotechnology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 25.00% from the company’s previous close.

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. “

Other analysts also recently issued research reports about the company. Gabelli upgraded Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $11.50 price objective for the company in a research report on Monday, October 22nd. They noted that the move was a valuation call. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $14.00 price objective on shares of Melinta Therapeutics in a research report on Tuesday, December 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Melinta Therapeutics in a research report on Monday, September 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $10.96.

MLNT opened at $1.00 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.46. Melinta Therapeutics has a 12-month low of $0.64 and a 12-month high of $15.25.

Melinta Therapeutics (NASDAQ:MLNT) last released its earnings results on Wednesday, November 7th. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.05) by $0.55. The firm had revenue of $34.08 million for the quarter, compared to analyst estimates of $17.24 million. Melinta Therapeutics had a negative return on equity of 68.68% and a negative net margin of 202.31%. Equities analysts predict that Melinta Therapeutics will post -3.65 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Marshall Wace North America L.P. bought a new position in shares of Melinta Therapeutics during the 3rd quarter worth approximately $48,000. Boenning & Scattergood Inc. lifted its position in shares of Melinta Therapeutics by 101.1% during the 3rd quarter. Boenning & Scattergood Inc. now owns 47,750 shares of the biotechnology company’s stock worth $189,000 after buying an additional 24,000 shares during the period. Franklin Street Advisors Inc. NC lifted its position in shares of Melinta Therapeutics by 411.1% during the 3rd quarter. Franklin Street Advisors Inc. NC now owns 64,650 shares of the biotechnology company’s stock worth $255,000 after buying an additional 52,000 shares during the period. TIAA CREF Investment Management LLC lifted its position in shares of Melinta Therapeutics by 23.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 90,646 shares of the biotechnology company’s stock worth $358,000 after buying an additional 17,360 shares during the period. Finally, ClariVest Asset Management LLC lifted its position in shares of Melinta Therapeutics by 50.0% during the 3rd quarter. ClariVest Asset Management LLC now owns 97,200 shares of the biotechnology company’s stock worth $384,000 after buying an additional 32,400 shares during the period. Institutional investors own 67.56% of the company’s stock.

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, an antibiotic for the treatment of acute bacterial skin and skin structure infections (ABSSSI); Vabomere, a carbapenem used in treatment of gram-negative infections; Orbactiv, an 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, as well as Solithromycin, a macrolide antibiotic for the treatment of CABP.

Featured Article: Momentum Investing

Get a free copy of the Zacks research report on Melinta Therapeutics (MLNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Melinta Therapeutics (NASDAQ:MLNT)

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.

Leave a Reply