FY2018 Earnings Forecast for Melinta Therapeutics, Inc. (MLNT) Issued By Gabelli
Melinta Therapeutics, Inc. (NASDAQ:MLNT) – Investment analysts at Gabelli cut their FY2018 EPS estimates for Melinta Therapeutics in a research report issued on Thursday, November 8th. Gabelli analyst K. Kedra now forecasts that the biotechnology company will post earnings of ($3.25) per share for the year, down from their prior estimate of ($3.20). Gabelli has a “Buy” rating and a $11.50 price objective on the stock. Gabelli also issued estimates for Melinta Therapeutics’ FY2019 earnings at ($0.90) EPS, FY2020 earnings at ($0.75) EPS, FY2021 earnings at ($0.40) EPS and FY2022 earnings at $0.15 EPS.
Melinta Therapeutics (NASDAQ:MLNT) last announced its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.50) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.05) by $0.55. The firm had revenue of $34.08 million for the quarter, compared to analyst estimates of $17.24 million. Melinta Therapeutics had a negative net margin of 202.31% and a negative return on equity of 68.68%.
NASDAQ MLNT opened at $2.67 on Monday. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $155.74 million, a price-to-earnings ratio of -0.12 and a beta of 1.45. Melinta Therapeutics has a one year low of $2.25 and a one year high of $18.20.
A number of hedge funds and other institutional investors have recently bought and sold shares of MLNT. Northern Trust Corp boosted its holdings in shares of Melinta Therapeutics by 48.0% in the first quarter. Northern Trust Corp now owns 166,112 shares of the biotechnology company’s stock valued at $1,229,000 after acquiring an additional 53,889 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Melinta Therapeutics by 41.8% in the first quarter. BlackRock Inc. now owns 857,398 shares of the biotechnology company’s stock valued at $6,344,000 after acquiring an additional 252,943 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Melinta Therapeutics by 10.6% in the first quarter. Dimensional Fund Advisors LP now owns 476,212 shares of the biotechnology company’s stock valued at $3,524,000 after acquiring an additional 45,784 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Melinta Therapeutics by 48.5% in the first quarter. California State Teachers Retirement System now owns 23,035 shares of the biotechnology company’s stock valued at $170,000 after acquiring an additional 7,520 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Melinta Therapeutics by 60.2% in the first quarter. Millennium Management LLC now owns 446,713 shares of the biotechnology company’s stock valued at $3,306,000 after acquiring an additional 167,798 shares in the last quarter. Institutional investors own 69.39% 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, 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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