Melinta Therapeutics Inc (NASDAQ:MLNT)’s share price shot up 9.4% on Friday . The company traded as high as $1.84 and last traded at $1.74, 250,707 shares were traded during mid-day trading. A decline of 76% from the average session volume of 1,046,136 shares. The stock had previously closed at $1.59.
Several brokerages have recently issued reports on MLNT. ValuEngine upgraded shares of Melinta Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. HC Wainwright reiterated a “hold” rating on shares of Melinta Therapeutics in a research report on Friday, October 25th. Finally, Zacks Investment Research cut Melinta Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $21.30.
The company has a market capitalization of $23.93 million, a P/E ratio of -0.10 and a beta of 4.27. The business has a 50-day moving average of $2.47 and a 200-day moving average of $3.26. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.03 and a quick ratio of 0.72.
Melinta Therapeutics (NASDAQ:MLNT) last posted its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($15.67) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.55) by ($13.12). Melinta Therapeutics had a negative net margin of 393.39% and a negative return on equity of 101.29%. The firm had revenue of $15.87 million for the quarter, compared to the consensus estimate of $15.51 million. Sell-side analysts predict that Melinta Therapeutics Inc will post -10.01 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Granahan Investment Management Inc. MA grew its holdings in Melinta Therapeutics by 8.2% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 240,771 shares of the biotechnology company’s stock valued at $917,000 after purchasing an additional 18,200 shares during the last quarter. Royal Bank of Canada bought a new position in shares of Melinta Therapeutics during the second quarter valued at approximately $267,000. Jane Street Group LLC bought a new position in shares of Melinta Therapeutics during the second quarter valued at approximately $297,000. D. E. Shaw & Co. Inc. bought a new position in shares of Melinta Therapeutics during the second quarter valued at approximately $357,000. Finally, Morgan Stanley raised its holdings in shares of Melinta Therapeutics by 82.9% in the second quarter. Morgan Stanley now owns 10,822 shares of the biotechnology company’s stock worth $72,000 after buying an additional 4,906 shares during the period. 18.02% of the stock is owned by hedge funds and other institutional investors.
Melinta Therapeutics Company Profile (NASDAQ:MLNT)
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.
Further Reading: Pattern Day Trader – What is the PDT Rule?
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.