ValuEngine upgraded shares of Menlo Therapeutics (NASDAQ:MNLO) from a hold rating to a buy rating in a report released on Thursday morning.
A number of other analysts have also commented on the company. Zacks Investment Research upgraded Menlo Therapeutics from a hold rating to a buy rating and set a $7.00 price objective for the company in a research report on Friday, October 12th. Jefferies Financial Group reduced their target price on Menlo Therapeutics to $7.00 and set a hold rating on the stock in a report on Tuesday, October 9th. Cantor Fitzgerald restated a buy rating and set a $25.00 target price on shares of Menlo Therapeutics in a report on Monday, October 8th. Roth Capital began coverage on Menlo Therapeutics in a report on Tuesday, July 24th. They set a buy rating and a $29.00 target price on the stock. Finally, KeyCorp began coverage on Menlo Therapeutics in a report on Tuesday, July 24th. They set a buy rating on the stock. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $24.43.
Menlo Therapeutics stock traded up $0.36 during mid-day trading on Thursday, hitting $6.92. 102,300 shares of the company were exchanged, compared to its average volume of 197,127. Menlo Therapeutics has a 1-year low of $5.40 and a 1-year high of $39.86. The firm has a market capitalization of $133.04 million and a P/E ratio of -1.22.
Menlo Therapeutics (NASDAQ:MNLO) last released its quarterly earnings data on Wednesday, August 1st. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.39. The company had revenue of $10.14 million for the quarter, compared to analyst estimates of $1.04 million. On average, sell-side analysts forecast that Menlo Therapeutics will post -2.89 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Novo Holdings A S boosted its holdings in Menlo Therapeutics by 5.5% during the second quarter. Novo Holdings A S now owns 1,436,313 shares of the company’s stock worth $11,663,000 after buying an additional 75,000 shares during the last quarter. First Manhattan Co. boosted its holdings in Menlo Therapeutics by 2,999.4% during the third quarter. First Manhattan Co. now owns 946,804 shares of the company’s stock worth $9,326,000 after buying an additional 916,256 shares during the last quarter. BlackRock Inc. bought a new position in Menlo Therapeutics during the first quarter worth about $17,185,000. DAFNA Capital Management LLC bought a new position in Menlo Therapeutics during the second quarter worth about $2,533,000. Finally, Millennium Management LLC bought a new position in Menlo Therapeutics during the second quarter worth about $1,738,000. Hedge funds and other institutional investors own 66.05% of the company’s stock.
Menlo Therapeutics Company Profile
Menlo Therapeutics Inc, a late-stage biopharmaceutical company, focuses on the development and commercialization of serlopitant for the treatment of pruritus associated with dermatologic conditions in the United States. The company has completed Phase II clinical trials in pruritus associated with prurigo nodularis.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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