$3.28 Million in Sales Expected for Melinta Therapeutics, Inc. (MLNT) This Quarter

Brokerages expect Melinta Therapeutics, Inc. (NASDAQ:MLNT) to announce $3.28 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Melinta Therapeutics’ earnings, with the lowest sales estimate coming in at $2.00 million and the highest estimate coming in at $4.57 million. Melinta Therapeutics reported sales of $7.95 million in the same quarter last year, which indicates a negative year over year growth rate of 58.7%. The company is scheduled to announce its next quarterly earnings results on Tuesday, February 27th.

According to Zacks, analysts expect that Melinta Therapeutics will report full-year sales of $3.28 million for the current fiscal year, with estimates ranging from $9.00 million to $12.02 million. For the next financial year, analysts anticipate that the company will post sales of $53.90 million per share, with estimates ranging from $5.00 million to $93.69 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Melinta Therapeutics.

Several brokerages have issued reports on MLNT. Zacks Investment Research lowered Melinta Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday. BidaskClub lowered Melinta Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. ValuEngine raised Melinta Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Gabelli raised Melinta Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, November 30th. Finally, Ladenburg Thalmann Financial Services raised Melinta Therapeutics from a “neutral” rating to a “buy” rating in a research note on Thursday, November 30th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Melinta Therapeutics presently has a consensus rating of “Hold” and an average price target of $3.56.

In other news, Director Vatera Healthcare Partners Llc bought 5,777,778 shares of the business’s stock in a transaction on Friday, January 5th. The stock was acquired at an average price of $13.50 per share, with a total value of $78,000,003.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 31.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in MLNT. BlackRock Inc. bought a new stake in Melinta Therapeutics in the fourth quarter valued at approximately $9,550,000. Schwab Charles Investment Management Inc. bought a new stake in Melinta Therapeutics in the fourth quarter valued at approximately $753,000. Gabelli Funds LLC bought a new stake in Melinta Therapeutics in the fourth quarter valued at approximately $607,000. Bank of New York Mellon Corp bought a new stake in Melinta Therapeutics in the fourth quarter valued at approximately $592,000. Finally, Virtus Fund Advisers LLC bought a new stake in Melinta Therapeutics in the fourth quarter valued at approximately $348,000.

Shares of Melinta Therapeutics (MLNT) opened at $12.20 on Monday. The stock has a market capitalization of $382.17, a P/E ratio of -1.66 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.49 and a quick ratio of 11.49. Melinta Therapeutics has a 52 week low of $10.25 and a 52 week high of $24.25.

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Melinta Therapeutics Company Profile

Melinta Therapeutics, Inc develops and commercializes novel antibiotics designed to provide therapeutic solutions. The Company’s lead product is Baxdela, an antibiotic approved by the United States food and drug administration (FDA) for use in the treatment of acute bacterial skin and skin structure infections (ABSSSI).

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