Zacks: Brokerages Expect Melinta Therapeutics Inc (MLNT) Will Post Earnings of -$2.73 Per Share

Analysts predict that Melinta Therapeutics Inc (NASDAQ:MLNT) will report earnings of ($2.73) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Melinta Therapeutics’ earnings. The lowest EPS estimate is ($3.59) and the highest is ($1.86). Melinta Therapeutics posted earnings per share of ($4.75) in the same quarter last year, which suggests a positive year-over-year growth rate of 42.5%. The business is expected to issue its next earnings results on Tuesday, May 14th.

On average, analysts expect that Melinta Therapeutics will report full-year earnings of ($10.31) per share for the current year, with EPS estimates ranging from ($13.26) to ($7.91). For the next financial year, analysts forecast that the business will report earnings of ($5.57) per share, with EPS estimates ranging from ($9.69) to ($2.80). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Melinta Therapeutics.

Melinta Therapeutics (NASDAQ:MLNT) last released its earnings results on Wednesday, March 13th. The biotechnology company reported ($1.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.92). The firm had revenue of $35.49 million during the quarter, compared to analyst estimates of $17.77 million. Melinta Therapeutics had a negative net margin of 163.01% and a negative return on equity of 60.83%.

Several research firms recently issued reports on MLNT. Zacks Investment Research lowered shares of Melinta Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 9th. ValuEngine upgraded shares of Melinta Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $55.00.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fosun International Ltd acquired a new position in shares of Melinta Therapeutics during the fourth quarter valued at about $449,000. JPMorgan Chase & Co. raised its holdings in shares of Melinta Therapeutics by 562.9% during the third quarter. JPMorgan Chase & Co. now owns 487,537 shares of the biotechnology company’s stock valued at $1,926,000 after purchasing an additional 413,989 shares during the period. Vanguard Group Inc raised its holdings in shares of Melinta Therapeutics by 4.5% during the third quarter. Vanguard Group Inc now owns 1,770,765 shares of the biotechnology company’s stock valued at $6,995,000 after purchasing an additional 76,253 shares during the period. TIAA CREF Investment Management LLC raised its holdings in shares of Melinta Therapeutics by 23.7% during the third quarter. TIAA CREF Investment Management LLC now owns 90,646 shares of the biotechnology company’s stock valued at $358,000 after purchasing an additional 17,360 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Melinta Therapeutics by 4.5% during the third quarter. Vanguard Group Inc. now owns 1,770,765 shares of the biotechnology company’s stock valued at $6,995,000 after purchasing an additional 76,253 shares during the period.

MLNT stock traded down $0.11 during midday trading on Friday, hitting $4.49. The stock had a trading volume of 230 shares, compared to its average volume of 627,072. The firm has a market cap of $51.66 million, a price-to-earnings ratio of -0.25 and a beta of 2.22. The company has a quick ratio of 0.81, a current ratio of 1.12 and a debt-to-equity ratio of 0.58. Melinta Therapeutics has a 1-year low of $3.20 and a 1-year high of $46.00.

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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Earnings History and Estimates for Melinta Therapeutics (NASDAQ:MLNT)

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