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MLNT

Melinta Therapeutics

$2.86

-0.67 (-18.98%)

07:17
08/12/19
08/12
07:17
08/12/19
07:17

Melinta Therapeutics downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright analyst Ed Arce downgraded Melinta Therapeutics to Neutral from Buy without a price target. The company on Friday issued a surprise announcement that both Chairman Kevin Ferro and CEO John Johnson had voluntarily resigned from their respective positions, and the board, Arce tells investors in a research note. This marks Melinta's fourth CEO departure in as many years, says the analyst. He cites a "high degree of uncertainty and instability" with Melinta in the near term for his downgrade.

MLNT Melinta Therapeutics
$2.86

-0.67 (-18.98%)

06/19/19
JEFF
06/19/19
NO CHANGE
Target $5
JEFF
Hold
Melinta rally on drug application acceptance overdone, says Jefferies
Jefferies analyst David Hoang views today's rally in shares of Melinta Therapeutics as overdone. The analyst keeps a Hold rating on the shares with a $5 price target. The stock is up 194% to $5.82 in midday trading the FDA accepted the company's supplemental new drug application for Baxdela for the community-acquired bacterial pneumonia. Baxdela approval and launch in this indication by 2020 should have been largely baked-in, Hoang tells investors in a research note.
06/20/19
WBBS
06/20/19
DOWNGRADE
Target $8
WBBS
Hold
Melinta Therapeutics downgraded to Hold from Speculative Buy at WBB Securities
WBB Securities downgraded Melinta Therapeutics to Hold from Speculative Buy with an $8 price target after the stock rose 224% yesterday to $6.41.
06/20/19
HCWC
06/20/19
NO CHANGE
Target $13
HCWC
Buy
Melinta rally reflects 'deeply oversold situation,' says H.C. Wainwright
H.C. Wainwright analyst Ed Arce believes yesterday's 224% rally in shares of Melinta Therapeutics reflects a "deeply oversold situation, more than anything else." With that said, the analyst views the FDA's acceptance of Melinta's supplemental New Drug Application of Baxdela as "clearly positive news and an important milestone." To reflect the impact of the company's ongoing cost restructuring, Arce lowered his price target for the shares to $13 from $45. He affirms a Buy rating on Melinta Therapeutics.
06/20/19
GABE
06/20/19
NO CHANGE
GABE
Gabelli fears Melinta Therapeutics may declare bankruptcy
Gabelli analyst Kevin Kedra kept a Sell rating on Melinta Therapeutics. He recommended investors sell the name after Wednesday's news that the FDA had accepted the sNDA filing for Baxdela, which caused Melinta shares to rise over 220%, which Kedra called a "baffling stock move." He sees near-term cash concerns for the company, which ended Q1 with $117M in cash and $223M of debt, along with operating cash burn of about $20M in the quarter, and fears the company could be forced to declare bankruptcy.

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TOT

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BP

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URBN

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$20.98

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SYBX

Synlogic

$3.45

-1.37 (-28.42%)

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Downgrade
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