Zacks: Brokerages Anticipate Melinta Therapeutics (MLNT) Will Post Quarterly Sales of $16.27 Million

Equities analysts expect Melinta Therapeutics (NASDAQ:MLNT) to announce sales of $16.27 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Melinta Therapeutics’ earnings, with the lowest sales estimate coming in at $14.56 million and the highest estimate coming in at $17.98 million. Melinta Therapeutics posted sales of $860,000.00 during the same quarter last year, which would indicate a positive year-over-year growth rate of 1,791.9%. The business is expected to announce its next earnings report on Wednesday, August 8th.

According to Zacks, analysts expect that Melinta Therapeutics will report full-year sales of $67.12 million for the current fiscal year, with estimates ranging from $64.71 million to $70.65 million. For the next fiscal year, analysts anticipate that the business will report sales of $108.11 million per share, with estimates ranging from $96.97 million to $121.36 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Melinta Therapeutics.

Melinta Therapeutics (NASDAQ:MLNT) last posted its quarterly earnings data on Tuesday, March 13th. The biotechnology company reported ($1.48) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.89). The company had revenue of $4.23 million during the quarter, compared to analysts’ expectations of $3.28 million. Melinta Therapeutics had a negative return on equity of 57.70% and a negative net margin of 327.21%.

Several research firms have recently commented on MLNT. Robert W. Baird upgraded Melinta Therapeutics from a “neutral” rating to an “outperform” rating in a research note on Wednesday. Zacks Investment Research lowered Melinta Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, February 8th. Finally, BidaskClub lowered Melinta Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $3.30.

Hedge funds have recently modified their holdings of the business. American International Group Inc. purchased a new stake in Melinta Therapeutics in the 4th quarter worth $102,000. Bank of Montreal Can purchased a new stake in Melinta Therapeutics in the 4th quarter worth $123,000. Wells Fargo & Company MN purchased a new stake in Melinta Therapeutics in the 4th quarter worth $123,000. The Manufacturers Life Insurance Company purchased a new stake in Melinta Therapeutics in the 4th quarter worth $133,000. Finally, Rhumbline Advisers purchased a new stake in Melinta Therapeutics in the 4th quarter worth $161,000. Institutional investors and hedge funds own 37.99% of the company’s stock.

NASDAQ:MLNT opened at $7.70 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.38 and a current ratio of 4.72.

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, an antibiotic for the treatment of acute bacterial skin and skin structure infections (ABSSSI); Vabomere, a carbapenem used in treatment of gram-negative infections; Orbactiv, an 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, as well as Solithromycin, a macrolide antibiotic for the treatment of CABP.

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