HC Wainwright Downgrades Melinta Therapeutics (NASDAQ:MLNT) to Neutral

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HC Wainwright downgraded shares of Melinta Therapeutics (NASDAQ:MLNT) from a buy rating to a neutral rating in a research report report published on Monday, BenzingaRatingsTable reports.

MLNT has been the topic of several other reports. ValuEngine upgraded shares of Melinta Therapeutics from a sell rating to a hold rating in a report on Monday, July 22nd. JPMorgan Chase & Co. lowered shares of Melinta Therapeutics from a neutral rating to an underweight rating in a report on Friday, June 14th. Gabelli reiterated a sell rating on shares of Melinta Therapeutics in a report on Thursday, June 20th. Cantor Fitzgerald set a $15.00 target price on shares of Melinta Therapeutics and gave the company a buy rating in a report on Wednesday, June 19th. Finally, Jefferies Financial Group lowered shares of Melinta Therapeutics from a buy rating to a hold rating and decreased their target price for the company from $14.00 to $5.00 in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $27.21.

NASDAQ:MLNT opened at $2.34 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.40 and a quick ratio of 1.06. The firm has a market capitalization of $32.18 million, a price-to-earnings ratio of -0.13 and a beta of 4.30. The company’s 50-day moving average is $4.60 and its two-hundred day moving average is $3.86. Melinta Therapeutics has a 1-year low of $1.62 and a 1-year high of $24.90.

Melinta Therapeutics (NASDAQ:MLNT) last posted its earnings results on Friday, August 9th. The biotechnology company reported ($3.07) earnings per share for the quarter, missing the consensus estimate of ($2.57) by ($0.50). The firm had revenue of $15.96 million during the quarter, compared to analyst estimates of $14.00 million. Melinta Therapeutics had a negative net margin of 135.23% and a negative return on equity of 55.97%. As a group, equities analysts anticipate that Melinta Therapeutics will post -9.57 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Bank of Montreal Can lifted its holdings in shares of Melinta Therapeutics by 253.2% in the 2nd quarter. Bank of Montreal Can now owns 5,503 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 3,945 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Melinta Therapeutics by 82.9% in the 2nd quarter. Morgan Stanley now owns 10,822 shares of the biotechnology company’s stock worth $72,000 after acquiring an additional 4,906 shares during the last quarter. Algert Global LLC acquired a new position in shares of Melinta Therapeutics in the 1st quarter worth approximately $39,000. Geode Capital Management LLC lifted its holdings in shares of Melinta Therapeutics by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 418,753 shares of the biotechnology company’s stock worth $331,000 after acquiring an additional 13,337 shares during the last quarter. Finally, Condor Capital Management acquired a new position in shares of Melinta Therapeutics in the 2nd quarter worth approximately $93,000. Hedge funds and other institutional investors own 26.73% of the company’s stock.

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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Analyst Recommendations for Melinta Therapeutics (NASDAQ:MLNT)

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