HC Wainwright restated their buy rating on shares of Melinta Therapeutics (NASDAQ:MLNT) in a research report released on Thursday morning, AnalystRatings.com reports. They currently have a $13.00 target price on the biotechnology company’s stock.
“We note that after a brief spike to $4.98 late Tuesday morning, MLNT shares closed last night at $3.75 per share, down $0.43 (-10.3%) since the release, versus NBI essentially flat (-0.4%) over the same period. First, the expected net product sales figure of $13.8M in the quarter is a slight 3% increase from our recently-lowered prior estimate of $13.4M. for CABP by Adjust PT to $13. We have now adjusted our estimate to match guidance. However, with 1H19 net product sales at about $25.6M, net sales growth in 2H19 would need to be at least 49% over 1H19 to meet the full-year 2019 minimum product sales of $63.75M as required by the Deerfield debt facility. This degree of growth acceleration seems unlikely to us the sequential growth in 2Q19 was 17%.”,” HC Wainwright’s analyst wrote.
MLNT has been the topic of several other research reports. WBB Securities downgraded Melinta Therapeutics from a speculative buy rating to a hold rating in a report on Thursday, June 20th. Jefferies Financial Group set a €20.00 ($23.26) price objective on ThyssenKrupp and gave the stock a buy rating in a report on Friday, May 10th. JPMorgan Chase & Co. set a $24.00 price objective on Urovant Sciences and gave the stock a buy rating in a report on Friday, June 14th. Gabelli cut Barnes & Noble from a buy rating to a hold rating and raised their target price for the stock from $6.50 to $6.71 in a research note on Thursday, June 20th. Finally, Cantor Fitzgerald set a $15.00 target price on Melinta Therapeutics and gave the stock a buy rating in a research note on Wednesday, June 19th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $28.00.
Melinta Therapeutics (NASDAQ:MLNT) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($2.34) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($2.72) by $0.38. The firm had revenue of $14.08 million for the quarter, compared to the consensus estimate 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, analysts predict that Melinta Therapeutics will post -9.57 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in shares of Melinta Therapeutics by 4.4% in the fourth quarter. BlackRock Inc. now owns 2,532,235 shares of the biotechnology company’s stock worth $2,008,000 after purchasing an additional 106,721 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Melinta Therapeutics by 6.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 772,725 shares of the biotechnology company’s stock worth $613,000 after purchasing an additional 48,907 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Melinta Therapeutics by 979.8% in the fourth quarter. Deutsche Bank AG now owns 751,625 shares of the biotechnology company’s stock worth $595,000 after purchasing an additional 682,014 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Melinta Therapeutics by 431.8% in the fourth quarter. Two Sigma Investments LP now owns 315,905 shares of the biotechnology company’s stock worth $250,000 after purchasing an additional 256,506 shares during the last quarter. Finally, Isthmus Partners LLC grew its stake in shares of Melinta Therapeutics by 460.5% in the first quarter. Isthmus Partners LLC now owns 84,072 shares of the biotechnology company’s stock worth $7,657,000 after purchasing an additional 69,072 shares during the last quarter. 26.81% of the stock is currently owned by institutional investors.
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, 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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