Melinta Therapeutics (NASDAQ:MLNT) Rating Lowered to Hold at WBB Securities

WBB Securities lowered shares of Melinta Therapeutics (NASDAQ:MLNT) from a speculative buy rating to a hold rating in a research report sent to investors on Thursday, Briefing.com Automated Import reports.

Several other research firms have also commented on MLNT. Zacks Investment Research raised Melinta Therapeutics from a hold rating to a strong-buy rating and set a $7.50 target price on the stock in a report on Thursday, February 21st. ValuEngine lowered Melinta Therapeutics from a hold rating to a sell rating in a report on Saturday, February 23rd. Jefferies Financial Group lowered Melinta Therapeutics from a buy rating to a hold rating and dropped their target price for the company from $14.00 to $5.00 in a report on Friday, May 10th. Cantor Fitzgerald reissued a buy rating and issued a $15.00 target price on shares of Melinta Therapeutics in a report on Thursday, May 9th. Finally, Gabelli lowered Melinta Therapeutics from a hold rating to a sell rating in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Melinta Therapeutics has an average rating of Hold and an average price target of $28.00.

NASDAQ:MLNT opened at $5.03 on Thursday. The firm has a market capitalization of $59.25 million, a P/E ratio of -0.28 and a beta of 2.64. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.06 and a current ratio of 1.40. Melinta Therapeutics has a 12 month low of $1.62 and a 12 month high of $37.50.

Melinta Therapeutics (NASDAQ:MLNT) last posted its earnings results on Thursday, May 9th. The biotechnology company reported ($2.34) EPS for the quarter, beating the consensus estimate of ($2.72) by $0.38. The firm had revenue of $14.08 million for the quarter, compared to analyst estimates of $16.83 million. Melinta Therapeutics had a negative return on equity of 61.13% and a negative net margin of 161.27%. Analysts predict that Melinta Therapeutics will post -9.88 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of MLNT. Rhumbline Advisers grew its holdings in shares of Melinta Therapeutics by 59.1% during the fourth quarter. Rhumbline Advisers now owns 44,129 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 16,400 shares during the last quarter. Algert Global LLC purchased a new position in shares of Melinta Therapeutics during the first quarter worth about $39,000. Condor Capital Management purchased a new position in shares of Melinta Therapeutics during the fourth quarter worth about $55,000. Bank of New York Mellon Corp grew its holdings in shares of Melinta Therapeutics by 11.3% during the fourth quarter. Bank of New York Mellon Corp now owns 142,938 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 14,567 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of Melinta Therapeutics by 431.8% during 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. 26.81% of the stock is currently owned by institutional investors.

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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