Wall Street analysts expect Melinta Therapeutics, Inc. (NASDAQ:MLNT) to post earnings of ($1.05) per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Melinta Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.83) and the lowest estimate coming in at ($1.17). Melinta Therapeutics reported earnings of ($1.00) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 5%. The business is expected to issue its next quarterly earnings results on Thursday, November 1st.
On average, analysts expect that Melinta Therapeutics will report full-year earnings of ($3.98) per share for the current year, with EPS estimates ranging from ($4.67) to ($3.72). For the next fiscal year, analysts anticipate that the business will report earnings of ($2.23) per share, with EPS estimates ranging from ($2.89) to ($1.79). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Melinta Therapeutics.
Melinta Therapeutics (NASDAQ:MLNT) last posted its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported ($1.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.14) by ($0.24). The firm had revenue of $12.02 million during the quarter, compared to the consensus estimate of $12.06 million. Melinta Therapeutics had a negative return on equity of 67.60% and a negative net margin of 348.51%.
A number of equities analysts have weighed in on MLNT shares. HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Melinta Therapeutics in a research report on Tuesday, October 2nd. Cantor Fitzgerald set a $15.00 price target on shares of Melinta Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, September 18th. Zacks Investment Research upgraded shares of Melinta Therapeutics from a “hold” rating to a “buy” rating and set a $6.75 price target for the company in a research report on Wednesday, July 18th. Jefferies Financial Group assumed coverage on shares of Melinta Therapeutics in a report on Tuesday, September 11th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, ValuEngine raised shares of Melinta Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $10.13.
Shares of MLNT traded up $0.11 during mid-day trading on Tuesday, reaching $3.86. The stock had a trading volume of 201,400 shares, compared to its average volume of 327,337. The firm has a market cap of $221.24 million, a P/E ratio of -0.17 and a beta of 1.06. Melinta Therapeutics has a 12 month low of $3.64 and a 12 month high of $18.20. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.97 and a quick ratio of 1.65.
Several hedge funds have recently added to or reduced their stakes in MLNT. Schwab Charles Investment Management Inc. lifted its holdings in shares of Melinta Therapeutics by 56.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 74,668 shares of the biotechnology company’s stock worth $553,000 after buying an additional 27,047 shares in the last quarter. Northern Trust Corp raised its stake in Melinta Therapeutics by 48.0% during the first quarter. Northern Trust Corp now owns 166,112 shares of the biotechnology company’s stock valued at $1,229,000 after purchasing an additional 53,889 shares in the last quarter. BlackRock Inc. raised its stake in Melinta Therapeutics by 41.8% during the first quarter. BlackRock Inc. now owns 857,398 shares of the biotechnology company’s stock valued at $6,344,000 after purchasing an additional 252,943 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Melinta Therapeutics by 10.6% during the first quarter. Dimensional Fund Advisors LP now owns 476,212 shares of the biotechnology company’s stock valued at $3,524,000 after purchasing an additional 45,784 shares in the last quarter. Finally, Stifel Financial Corp purchased a new stake in Melinta Therapeutics during the first quarter valued at $1,120,000. 68.60% of the stock is currently owned by hedge funds and other institutional investors.
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, 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.
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