Brokerages Expect Melinta Therapeutics Inc (MLNT) Will Announce Quarterly Sales of $17.77 Million

Share on StockTwits

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.

MLNT stock traded down $0.04 during mid-day trading on Monday, hitting $1.70. The stock had a trading volume of 1,536,500 shares, compared to its average volume of 1,536,264. The firm has a market cap of $97.47 million, a P/E ratio of -0.08 and a beta of 2.13. Melinta Therapeutics has a 1-year low of $0.64 and a 1-year high of $13.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.34 and a quick ratio of 1.04.

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.

Featured Story: Outstanding Shares, Buying and Selling Stocks

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

Earnings History and Estimates 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.

Latest News

Crypto Harbor Exchange Reaches 24-Hour Volume of $7,793.00
Crypto Harbor Exchange Reaches 24-Hour Volume of $7,793.00
Nebula AI Market Cap Hits $1.52 Million
Nebula AI Market Cap Hits $1.52 Million
Brokerages Anticipate Hilton Hotels Co.  Will Post Quarterly Sales of $2.26 Billion
Brokerages Anticipate Hilton Hotels Co. Will Post Quarterly Sales of $2.26 Billion
Banco Santander, S.A.  Given Average Recommendation of “Hold” by Analysts
Banco Santander, S.A. Given Average Recommendation of “Hold” by Analysts
Zacks Investment Research Upgrades First Mid-Illinois Bancshares  to Hold
Zacks Investment Research Upgrades First Mid-Illinois Bancshares to Hold
Loopring [NEO]  Achieves Market Cap of $8.42 Million
Loopring [NEO] Achieves Market Cap of $8.42 Million


Leave a Reply

© 2006-2019 Ticker Report