Cantor Fitzgerald Thinks Melinta Therapeutics Inc’s Stock is Going to Recover


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 $4.65, close to its 52-week low of $3.95.

Chen commented:

“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 – 4.Valuation We use a blend of P/E and DCF analysis to arrive at our $15 PT.”

According to TipRanks.com, Chen is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -9.7% and a 37.1% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Aclaris Therapeutics Inc.

Currently, the analyst consensus on Melinta Therapeutics Inc is a Moderate Buy with an average price target of $14.50, representing a 211.8% upside. In a report issued on September 11, H.C. Wainwright also initiated coverage with a Buy rating on the stock with a $14 price target.

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The company has a one-year high of $18.20 and a one-year low of $3.95. Currently, Melinta Therapeutics Inc has an average volume of 384.5K.

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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.

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