Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Melinta Therapeutics Inc (NASDAQ: MLNT) today and set a price target of $15. The company’s shares opened today at $5, equals to its 52-week low of $5.
Chen observed:
“We expect sales of key drugs (such as to exceed consensus expectations. Therefore, upwards earnings revisions should drive MLNT’s stock higher, in our view. Valuation Summary We use a blend of P/E and DCF analysis to arrive at our $15 PT. The Disclosure Section may be found on pages 3 – 5.Valuation We use a blend of P/E and DCF analysis to arrive at our $15 PT.”
According to TipRanks.com, Chen is ranked 0 out of 5 stars with an average return of -5.9% and a 40.8% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aclaris Therapeutics Inc, and Paratek Pharmaceuticals.
Currently, the analyst consensus on Melinta Therapeutics Inc is a Strong Buy with an average price target of $12.67.
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Based on Melinta Therapeutics Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $29.43 million. In comparison, last year the company had a GAAP net loss of $12.27 million.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MLNT in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Melinta Therapeutics, Inc. is a commercial-stage biopharmaceutical company, which engages in the discover, development and commercialization of antibiotics. Its product, Baxbela, is used in the treatment of acute bacterial skin and skin structure infections.
