Menlo Therapeutics (NASDAQ:MNLO) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of Menlo Therapeutics (NASDAQ:MNLO) from a hold rating to a buy rating in a research report sent to investors on Thursday, ValuEngine reports.

Several other brokerages have also recently issued reports on MNLO. Cantor Fitzgerald reaffirmed a buy rating and set a $25.00 target price on shares of Menlo Therapeutics in a research report on Thursday, May 2nd. Zacks Investment Research cut Menlo Therapeutics from a buy rating to a hold rating in a research report on Wednesday, July 3rd.

Shares of NASDAQ:MNLO traded down $0.01 during mid-day trading on Thursday, hitting $3.46. 45,208 shares of the company traded hands, compared to its average volume of 42,134. The stock has a market cap of $90.72 million, a PE ratio of -1.46 and a beta of 2.40. Menlo Therapeutics has a 12-month low of $3.37 and a 12-month high of $12.00. The firm’s 50-day moving average price is $5.20.

Menlo Therapeutics (NASDAQ:MNLO) last announced its earnings results on Thursday, August 1st. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.84) by $0.15. On average, sell-side analysts predict that Menlo Therapeutics will post -3.37 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of MNLO. BlackRock Inc. grew its holdings in shares of Menlo Therapeutics by 4.5% during the 4th quarter. BlackRock Inc. now owns 551,683 shares of the company’s stock worth $2,272,000 after purchasing an additional 23,648 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Menlo Therapeutics by 51.0% during the 4th quarter. Bank of New York Mellon Corp now owns 38,662 shares of the company’s stock worth $159,000 after purchasing an additional 13,064 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Menlo Therapeutics by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 84,387 shares of the company’s stock worth $347,000 after purchasing an additional 3,608 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Menlo Therapeutics by 8.9% during the 4th quarter. Bank of America Corp DE now owns 42,160 shares of the company’s stock worth $173,000 after purchasing an additional 3,448 shares in the last quarter. Finally, First Manhattan Co. grew its holdings in shares of Menlo Therapeutics by 70.3% during the 1st quarter. First Manhattan Co. now owns 2,256,903 shares of the company’s stock worth $17,716,000 after purchasing an additional 931,528 shares in the last quarter. Institutional investors and hedge funds own 73.95% of the company’s stock.

About Menlo Therapeutics

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; psoriasis; chronic pruritus; atopic dermatitis; and refractory chronic cough.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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