Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Melinta Therapeutics Inc (MLNT) today and set a price target of $15. The company’s shares opened today at $4.63, close to its 52-week low of $3.22.
Chen wrote:
“. Post a solid quarter of execution in 1Q19, we reiterate our OW rating and 12-month price target of $15 for MLNT shares. We continue to believe that upward earnings revisions and multiple expansion, from the uptake of its drugs, will drive the stock higher.”
According to TipRanks.com, Chen is a 4-star analyst with an average return of 7.4% and a 40.8% success rate. Chen covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, Bausch Health Companies Inc, and Amneal Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Melinta Therapeutics Inc with a $30 average 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.
