Wall Street analysts expect Melinta Therapeutics Inc (NASDAQ:MLNT) to announce $17.77 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Melinta Therapeutics’ earnings. The lowest sales estimate is $15.70 million and the highest is $21.10 million. Melinta Therapeutics reported sales of $4.23 million in the same quarter last year, which indicates a positive year-over-year growth rate of 320.1%. The business is expected to announce its next earnings report on Tuesday, March 12th.
On average, analysts expect that Melinta Therapeutics will report full year sales of $73.10 million for the current financial year, with estimates ranging from $57.40 million to $93.00 million. For the next fiscal year, analysts expect that the company will report sales of $86.95 million, with estimates ranging from $72.90 million to $101.59 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Melinta Therapeutics.
MLNT has been the subject of several recent analyst reports. LADENBURG THALM/SH SH restated a “buy” rating and set a $14.00 target price on shares of Melinta Therapeutics in a research note on Tuesday, December 18th. Zacks Investment Research lowered Melinta Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. Gabelli lowered Melinta Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, December 20th. Finally, HC Wainwright reduced their target price on Melinta Therapeutics from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, October 22nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Melinta Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $11.04.
Large investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its holdings in Melinta Therapeutics by 59.1% in the 4th quarter. Rhumbline Advisers now owns 44,129 shares of the biotechnology company’s stock worth $35,000 after buying an additional 16,400 shares during the period. Marshall Wace North America L.P. purchased a new position in Melinta Therapeutics in the 3rd quarter worth $48,000. Condor Capital Management purchased a new position in shares of Melinta Therapeutics in the fourth quarter valued at about $55,000. Bank of New York Mellon Corp increased its position in shares of Melinta Therapeutics by 11.3% in the fourth quarter. Bank of New York Mellon Corp now owns 142,938 shares of the biotechnology company’s stock valued at $113,000 after acquiring an additional 14,567 shares during the period. Finally, Boenning & Scattergood Inc. increased its position in shares of Melinta Therapeutics by 265.4% in the fourth quarter. Boenning & Scattergood Inc. now owns 174,500 shares of the biotechnology company’s stock valued at $138,000 after acquiring an additional 126,750 shares during the period. Hedge funds and other institutional investors own 67.15% of the company’s stock.
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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