Ladenburg Thalmann Transfers Coverage on Melinta Therapeutics Inc. (MLNT) at Buy

Ladenburg Thalmann analyst Michael Higgins assumes coverage on Melinta Therapeutics Inc. (NASDAQ: MLNT) with a Buy rating and a price target of $14.00.

The analyst comments "Melinta has come under pressure recently due to lower than expected sales, which we believe is not a reflection on the assets’ quality but the inability of the company’s commercial execution to overcome a recent industry-wide trend of underperforming antibiotic launches. As a result, Melinta is refocusing on boosting sales of its approved antibiotics, obtaining approval in additional countries and securing financially advantageous licensing deals ex-U.S., while divesting its R&D initiatives. Overshadowed by the underperforming sales is the near-term potential for Baxdela’s approval in Europe for ABSSSI (1H’19) and in the U.S. for community-acquired bacterial pneumonia (CABP, sNDA filing expected 1H’9)."

For an analyst ratings summary and ratings history on Melinta Therapeutics Inc. click here. For more ratings news on Melinta Therapeutics Inc. click here.

Shares of Melinta Therapeutics Inc. closed at $1.23 yesterday.

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