A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Melinta Therapeutics from a hold rating to a strong-buy rating and set a $3.50 price objective on the stock in a research report on Wednesday, October 30th. HC Wainwright reiterated a hold rating on shares of Melinta Therapeutics in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $21.30.
MLNT traded down $0.02 during trading hours on Monday, hitting $2.19. The company’s stock had a trading volume of 255,200 shares, compared to its average volume of 1,090,574. The company has a current ratio of 1.18, a quick ratio of 0.87 and a debt-to-equity ratio of 1.11. Melinta Therapeutics has a 12 month low of $1.62 and a 12 month high of $14.65. The stock has a market cap of $40.43 million, a price-to-earnings ratio of -0.12 and a beta of 4.43. The business’s 50-day moving average price is $3.56 and its 200-day moving average price is $3.60.
A number of hedge funds have recently bought and sold shares of the business. Bank of Montreal Can increased its position in Melinta Therapeutics by 253.2% during the second quarter. Bank of Montreal Can now owns 5,503 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 3,945 shares during the last quarter. Morgan Stanley grew 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 purchasing an additional 4,906 shares during the last quarter. Condor Capital Management bought a new position in shares of Melinta Therapeutics in the second quarter worth about $93,000. Parametric Portfolio Associates LLC bought a new position in shares of Melinta Therapeutics in the second quarter worth about $142,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Melinta Therapeutics by 80.2% in the second quarter. Bank of New York Mellon Corp now owns 49,377 shares of the biotechnology company’s stock worth $328,000 after purchasing an additional 21,971 shares during the last quarter. Institutional investors and hedge funds own 19.46% of the company’s stock.
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.
Featured Article: Marijuana Stocks
To view ValuEngine’s full report, visit ValuEngine’s official website.
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.