$16.83 Million in Sales Expected for Melinta Therapeutics Inc (MLNT) This Quarter

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Equities analysts forecast that Melinta Therapeutics Inc (NASDAQ:MLNT) will announce $16.83 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Melinta Therapeutics’ earnings, with the lowest sales estimate coming in at $15.45 million and the highest estimate coming in at $18.20 million. Melinta Therapeutics posted sales of $14.84 million during the same quarter last year, which would indicate a positive year over year growth rate of 13.4%. The company is scheduled to report its next quarterly earnings results on Tuesday, May 14th.

According to Zacks, analysts expect that Melinta Therapeutics will report full-year sales of $80.15 million for the current financial year, with estimates ranging from $66.01 million to $101.59 million. For the next fiscal year, analysts expect that the company will report sales of $110.08 million, with estimates ranging from $98.00 million to $143.32 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Melinta Therapeutics.

Melinta Therapeutics (NASDAQ:MLNT) last announced its quarterly earnings data on Wednesday, March 13th. The biotechnology company reported ($1.93) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.01) by ($0.92). The business had revenue of $35.49 million during the quarter, compared to the consensus estimate of $17.77 million. Melinta Therapeutics had a negative net margin of 163.01% and a negative return on equity of 60.83%.

MLNT has been the topic of several research analyst reports. Zacks Investment Research downgraded Melinta Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. ValuEngine downgraded Melinta Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 23rd. Gabelli downgraded Melinta Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, December 20th. Finally, LADENBURG THALM/SH SH reissued a “buy” rating and set a $70.00 price target on shares of Melinta Therapeutics in a research report on Tuesday, December 18th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $55.00.

Melinta Therapeutics stock traded down $0.11 during mid-day trading on Friday, hitting $4.49. The company’s stock had a trading volume of 230 shares, compared to its average volume of 627,072. The company has a market capitalization of $51.66 million, a PE ratio of -0.25 and a beta of 2.22. The company has a quick ratio of 0.81, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. Melinta Therapeutics has a one year low of $3.20 and a one year high of $46.00.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fosun International Ltd purchased a new stake in shares of Melinta Therapeutics during the 4th quarter worth $449,000. JPMorgan Chase & Co. lifted its stake 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 worth $1,926,000 after purchasing an additional 413,989 shares during the last quarter. Vanguard Group Inc lifted its stake 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 worth $6,995,000 after purchasing an additional 76,253 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake 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 worth $358,000 after purchasing an additional 17,360 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake 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 worth $6,995,000 after purchasing an additional 76,253 shares during the last quarter.

About Melinta Therapeutics

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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