Cantor Fitzgerald Reaffirms “Buy” Rating for Melinta Therapeutics (MLNT)

Melinta Therapeutics (NASDAQ:MLNT)‘s stock had its “buy” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research note issued on Thursday, AnalystRatings.com reports. They presently have a $15.00 target price on the biotechnology company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 334.78% from the stock’s previous close.

The analysts wrote, “. Post a solid quarter of execution in 1Q19, we reiterate our OW rating and 12-month price target of $15 for MLNT shares. We continue to believe that upward earnings revisions and multiple expansion, from the uptake of its drugs, will drive the stock higher.””

Several other research analysts have also recently weighed in on the stock. ValuEngine cut shares of Melinta Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 23rd. Zacks Investment Research upgraded shares of Melinta Therapeutics from a “hold” rating to a “strong-buy” rating and set a $7.50 price objective for the company in a research report on Thursday, February 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $36.43.

MLNT stock opened at $3.45 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.12 and a quick ratio of 0.81. Melinta Therapeutics has a fifty-two week low of $3.20 and a fifty-two week high of $46.00. The company has a market capitalization of $54.54 million, a P/E ratio of -0.19 and a beta of 2.31.

Melinta Therapeutics (NASDAQ:MLNT) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($2.34) earnings per share for the quarter, topping the consensus estimate of ($2.72) by $0.38. Melinta Therapeutics had a negative net margin of 161.27% and a negative return on equity of 57.65%. The firm had revenue of $14.08 million during the quarter, compared to analysts’ expectations of $16.83 million. As a group, sell-side analysts forecast that Melinta Therapeutics will post -10.31 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Fosun International Ltd bought a new stake in shares of Melinta Therapeutics during the 4th quarter valued at $449,000. JPMorgan Chase & Co. raised its position in shares of Melinta Therapeutics by 562.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 487,537 shares of the biotechnology company’s stock valued at $1,926,000 after acquiring an additional 413,989 shares during the last quarter. BlackRock Inc. raised its position in shares of Melinta Therapeutics by 4.4% during the 4th quarter. BlackRock Inc. now owns 2,532,235 shares of the biotechnology company’s stock valued at $2,008,000 after acquiring an additional 106,721 shares during the last quarter. Vanguard Group Inc raised its position in shares of Melinta Therapeutics by 4.5% during the 3rd quarter. Vanguard Group Inc now owns 1,770,765 shares of the biotechnology company’s stock valued at $6,995,000 after acquiring an additional 76,253 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised 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 valued at $358,000 after acquiring an additional 17,360 shares during the last quarter.

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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Analyst Recommendations for Melinta Therapeutics (NASDAQ:MLNT)

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