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.
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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