Equities research analysts expect Melinta Therapeutics Inc (NASDAQ:MLNT) to announce $16.83 million in sales for the current fiscal 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 in the same quarter last year, which suggests a positive year over year growth rate of 13.4%. The company is scheduled to issue its next quarterly earnings report on Tuesday, May 14th.
According to Zacks, analysts expect that Melinta Therapeutics will report full-year sales of $80.15 million for the current fiscal year, with estimates ranging from $66.01 million to $101.59 million. For the next financial year, analysts anticipate that the business will report sales of $110.08 million, with estimates ranging from $98.00 million to $143.32 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Melinta Therapeutics.
Several research firms have recently commented on MLNT. Zacks Investment Research downgraded shares of Melinta Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. ValuEngine downgraded shares of Melinta Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $55.00.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace North America L.P. acquired a new position in Melinta Therapeutics during the third quarter valued at $48,000. Rhumbline Advisers lifted its position in Melinta Therapeutics by 59.1% during the fourth quarter. Rhumbline Advisers now owns 44,129 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 16,400 shares during the period. Condor Capital Management acquired a new position in Melinta Therapeutics during the fourth quarter valued at $55,000. TIAA CREF Investment Management LLC lifted its position in Melinta Therapeutics by 23.7% during the third quarter. TIAA CREF Investment Management LLC now owns 90,646 shares of the biotechnology company’s stock valued at $358,000 after purchasing an additional 17,360 shares during the period. Finally, ClariVest Asset Management LLC lifted its position in Melinta Therapeutics by 50.0% during the third quarter. ClariVest Asset Management LLC now owns 97,200 shares of the biotechnology company’s stock valued at $384,000 after purchasing an additional 32,400 shares during the period.
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.
Read More: Dollar Cost Averaging
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Melinta Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melinta Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.