Melinta Therapeutics, Inc. (NASDAQ:MLNT) has been given a consensus recommendation of “Hold” by the ten ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $3.72.
Several research firms have recently issued reports on MLNT. Zacks Investment Research raised shares of Melinta Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 17th. BidaskClub downgraded shares of Melinta Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd.
NASDAQ:MLNT traded down $0.33 on Wednesday, hitting $6.57. The company had a trading volume of 170,199 shares, compared to its average volume of 163,237. The company has a market cap of $216.14, a price-to-earnings ratio of -0.30 and a beta of 1.38. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.72 and a quick ratio of 4.38. Melinta Therapeutics has a 52 week low of $6.50 and a 52 week high of $24.25.
Several hedge funds have recently added to or reduced their stakes in the company. Vatera Holdings LLC bought a new position in shares of Melinta Therapeutics during the fourth quarter valued at $106,325,000. BlackRock Inc. bought a new position in shares of Melinta Therapeutics during the fourth quarter valued at $9,550,000. Millennium Management LLC bought a new position in shares of Melinta Therapeutics during the fourth quarter valued at $4,407,000. Sphera Funds Management LTD. bought a new position in shares of Melinta Therapeutics during the fourth quarter valued at $3,160,000. Finally, Deutsche Bank AG bought a new position in shares of Melinta Therapeutics during the fourth quarter valued at $1,464,000. 36.99% of the stock is owned by hedge funds and other institutional investors.
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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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