Melinta Therapeutics (NASDAQ:MLNT) Lowered to Underweight at JPMorgan Chase & Co.

Melinta Therapeutics (NASDAQ:MLNT) was downgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Friday, The Fly reports.

Several other equities analysts also recently weighed in on MLNT. Gabelli downgraded shares of Melinta Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Jefferies Financial Group downgraded shares of Melinta Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the stock from $14.00 to $5.00 in a research note on Friday, May 10th. Cantor Fitzgerald reissued a “buy” rating and set a $15.00 price objective on shares of Melinta Therapeutics in a research report on Thursday, May 9th. ValuEngine upgraded shares of Melinta Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, March 7th. Finally, Zacks Investment Research cut shares of Melinta Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $35.83.

NASDAQ MLNT opened at $1.86 on Friday. Melinta Therapeutics has a 12-month low of $1.67 and a 12-month high of $46.00. The company has a quick ratio of 1.06, a current ratio of 1.40 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $21.44 million, a price-to-earnings ratio of -0.10 and a beta of 2.64.

Melinta Therapeutics (NASDAQ:MLNT) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($2.34) EPS for the quarter, beating the Zacks’ consensus estimate of ($2.72) by $0.38. The company had revenue of $14.08 million for the quarter, compared to analyst estimates of $16.83 million. Melinta Therapeutics had a negative net margin of 161.27% and a negative return on equity of 61.13%. On average, research analysts forecast that Melinta Therapeutics will post -9.71 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of MLNT. Algert Global LLC acquired a new stake in Melinta Therapeutics in the first quarter valued at $39,000. Rhumbline Advisers raised its stake in shares of Melinta Therapeutics by 59.1% during the 4th quarter. Rhumbline Advisers now owns 44,129 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 16,400 shares in the last quarter. Condor Capital Management acquired a new position in shares of Melinta Therapeutics during the 4th quarter valued at about $55,000. Isthmus Partners LLC lifted its position in shares of Melinta Therapeutics by 460.5% in the 1st quarter. Isthmus Partners LLC now owns 84,072 shares of the biotechnology company’s stock worth $7,657,000 after acquiring an additional 69,072 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its position in shares of Melinta Therapeutics by 23.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 90,646 shares of the biotechnology company’s stock worth $358,000 after buying an additional 17,360 shares during the period. Institutional investors and hedge funds own 26.81% of the company’s stock.

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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