Melinta Therapeutics Inc (MLNT) Expected to Announce Quarterly Sales of $17.77 Million
Equities analysts predict that Melinta Therapeutics Inc (NASDAQ:MLNT) will post $17.77 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Melinta Therapeutics’ earnings. The lowest sales estimate is $15.70 million and the highest is $21.10 million. Melinta Therapeutics reported sales of $4.23 million during the same quarter last year, which indicates a positive year-over-year growth rate of 320.1%. The business is scheduled to issue its next earnings results on Tuesday, March 12th.
On average, analysts expect that Melinta Therapeutics will report full year sales of $73.10 million for the current financial year, with estimates ranging from $57.40 million to $93.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $86.95 million, with estimates ranging from $72.90 million to $101.59 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Melinta Therapeutics.
Melinta Therapeutics (NASDAQ:MLNT) last issued its earnings results on Wednesday, November 7th. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.05) by $0.55. Melinta Therapeutics had a negative net margin of 202.31% and a negative return on equity of 68.68%. The firm had revenue of $34.08 million during the quarter, compared to analysts’ expectations of $17.24 million.
MLNT stock opened at $1.06 on Friday. The stock has a market cap of $58.26 million, a PE ratio of -0.05 and a beta of 2.13. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.34 and a quick ratio of 1.04. Melinta Therapeutics has a 52 week low of $0.64 and a 52 week high of $16.75.
Several institutional investors have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. purchased a new stake in shares of Melinta Therapeutics in the 3rd quarter valued at approximately $48,000. TIAA CREF Investment Management LLC raised its stake in shares of Melinta Therapeutics by 23.7% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 90,646 shares of the biotechnology company’s stock valued at $358,000 after acquiring an additional 17,360 shares during the period. Boenning & Scattergood Inc. raised its stake in shares of Melinta Therapeutics by 101.1% in the 3rd quarter. Boenning & Scattergood Inc. now owns 47,750 shares of the biotechnology company’s stock valued at $189,000 after acquiring an additional 24,000 shares during the period. ClariVest Asset Management LLC raised its stake in shares of Melinta Therapeutics by 50.0% in the 3rd quarter. ClariVest Asset Management LLC now owns 97,200 shares of the biotechnology company’s stock valued at $384,000 after acquiring an additional 32,400 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Melinta Therapeutics by 64.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 92,030 shares of the biotechnology company’s stock valued at $584,000 after acquiring an additional 36,155 shares during the period. 67.56% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading: How do taxes affect a CDs total return?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.