Ladenburg Thinks Melinta Therapeutics Inc’s Stock is Going to Recover


In a report released today, Michael Higgins from Ladenburg maintained a Buy rating on Melinta Therapeutics Inc (MLNT), with a price target of $14. The company’s shares closed yesterday at $4.63, close to its 52-week low of $3.22.

Higgins observed:

“We were looking for $13.7M in “Product sales, net”. Total revenues include contract research and license revenues, which vary quarter to quarter and make comparisons to consensus difficult.”

According to TipRanks.com, Higgins is ranked 0 out of 5 stars with an average return of -5.4% and a 29.4% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Rhythm Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Paratek Pharmaceuticals.

Melinta Therapeutics Inc has an analyst consensus of Strong Buy, with a price target consensus of $24.67, a 432.8% upside from current levels. In a report released yesterday, Cantor Fitzgerald also maintained a Buy rating on the stock with a $15 price target.

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The company has a one-year high of $46 and a one-year low of $3.22. Currently, Melinta Therapeutics Inc has an average volume of 651.3K.

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Melinta Therapeutics, Inc. operates as a commercial-stage pharmaceutical company which engages in developing and commercializing anti-infective s for the hospital and selected non-hospital or communities. It markets antibiotics including Baxdela, Vabomere, Orbactiv, and Minocin for injections.

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