Shares of Melinta Therapeutics, Inc. (NASDAQ:MLNT) have been assigned a consensus recommendation of “Buy” from the ten analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $12.30.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Melinta Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday. Cantor Fitzgerald assumed coverage on shares of Melinta Therapeutics in a report on Sunday, July 1st. They issued a “buy” rating and a $15.00 target price for the company. HC Wainwright lowered their target price on shares of Melinta Therapeutics from $14.00 to $12.00 and set a “buy” rating for the company in a report on Monday, October 22nd. Finally, ValuEngine upgraded shares of Melinta Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd.

Melinta Therapeutics stock traded down $0.25 during trading on Friday, reaching $2.80. The company had a trading volume of 561,859 shares, compared to its average volume of 475,666. Melinta Therapeutics has a 12-month low of $2.78 and a 12-month high of $18.20. The company has a market cap of $156.83 million, a price-to-earnings ratio of -0.13 and a beta of 1.06. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.65 and a current ratio of 1.97.

Melinta Therapeutics (NASDAQ:MLNT) last released its earnings results on Tuesday, August 7th. The biotechnology company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.14) by ($0.24). Melinta Therapeutics had a negative net margin of 348.51% and a negative return on equity of 67.60%. The company had revenue of $12.02 million during the quarter, compared to analysts’ expectations of $12.06 million. Sell-side analysts predict that Melinta Therapeutics will post -3.84 EPS for the current year.

A number of hedge funds have recently made changes to their positions in MLNT. Schwab Charles Investment Management Inc. lifted its position in Melinta Therapeutics by 56.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 74,668 shares of the biotechnology company’s stock valued at $553,000 after buying an additional 27,047 shares in the last quarter. Northern Trust Corp lifted its position in Melinta Therapeutics by 48.0% during the first quarter. Northern Trust Corp now owns 166,112 shares of the biotechnology company’s stock valued at $1,229,000 after buying an additional 53,889 shares in the last quarter. BlackRock Inc. lifted its position in Melinta Therapeutics by 41.8% during the first quarter. BlackRock Inc. now owns 857,398 shares of the biotechnology company’s stock valued at $6,344,000 after buying an additional 252,943 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Melinta Therapeutics by 10.6% during the first quarter. Dimensional Fund Advisors LP now owns 476,212 shares of the biotechnology company’s stock valued at $3,524,000 after buying an additional 45,784 shares in the last quarter. Finally, Stifel Financial Corp acquired a new position in Melinta Therapeutics during the first quarter valued at approximately $1,120,000. 69.40% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Melinta Therapeutics (NASDAQ:MLNT)

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