Melinta Therapeutics’ (MLNT) “Sell” Rating Reaffirmed at Gabelli

Melinta Therapeutics (NASDAQ:MLNT)‘s stock had its “sell” rating reissued by investment analysts at Gabelli in a research note issued on Thursday, June 20th, Stock Target Advisor reports.

A number of other analysts have also recently weighed in on the company. JPMorgan Chase & Co. set a $24.00 price target on Urovant Sciences and gave the stock a “buy” rating in a research report on Friday, June 14th. Zacks Investment Research cut Fortuna Silver Mines from a “hold” rating to a “sell” rating in a research report on Wednesday, February 27th. ValuEngine cut Olympic Steel from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 7th. WBB Securities cut Melinta Therapeutics from a “speculative buy” rating to a “hold” rating in a research report on Thursday, June 20th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $27.00 price target on shares of Spero Therapeutics in a research report on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Melinta Therapeutics presently has a consensus rating of “Hold” and an average target price of $28.00.

MLNT traded up $0.16 during trading on Thursday, reaching $4.61. 1,094,343 shares of the stock traded hands, compared to its average volume of 6,990,268. The stock has a market cap of $52.42 million, a PE ratio of -0.26 and a beta of 4.34. Melinta Therapeutics has a fifty-two week low of $1.62 and a fifty-two week high of $32.75. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.06 and a current ratio of 1.40. The firm’s 50-day moving average price is $4.07.

Melinta Therapeutics (NASDAQ:MLNT) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($2.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.72) by $0.38. The firm had revenue of $14.08 million during the quarter, compared to analysts’ expectations of $16.83 million. Melinta Therapeutics had a negative return on equity of 61.13% and a negative net margin of 161.27%. On average, equities research analysts expect that Melinta Therapeutics will post -9.99 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of MLNT. Algert Global LLC bought a new stake in Melinta Therapeutics during the 1st quarter valued at about $39,000. Isthmus Partners LLC increased its stake in Melinta Therapeutics by 460.5% during the 1st quarter. Isthmus Partners LLC now owns 84,072 shares of the biotechnology company’s stock valued at $7,657,000 after purchasing an additional 69,072 shares in the last quarter. Deutsche Bank AG increased its stake in Melinta Therapeutics by 979.8% during the 4th quarter. Deutsche Bank AG now owns 751,625 shares of the biotechnology company’s stock valued at $595,000 after purchasing an additional 682,014 shares in the last quarter. Two Sigma Investments LP increased its stake in Melinta Therapeutics by 431.8% during the 4th quarter. Two Sigma Investments LP now owns 315,905 shares of the biotechnology company’s stock valued at $250,000 after purchasing an additional 256,506 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Melinta Therapeutics by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 418,753 shares of the biotechnology company’s stock valued at $331,000 after purchasing an additional 13,337 shares in the last quarter. Hedge funds and other institutional investors own 26.81% 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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