Menlo Therapeutics (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 morning.

A number of other equities research analysts also recently issued reports on MNLO. Cantor Fitzgerald reiterated a buy rating and issued a $25.00 price objective on shares of Menlo Therapeutics in a research report on Monday, October 8th. Jefferies Financial Group lowered their price objective on Menlo Therapeutics to $7.00 and set a hold rating on the stock in a research report on Tuesday, October 9th. Zacks Investment Research upgraded Menlo Therapeutics from a hold rating to a buy rating and set a $7.00 price objective on the stock in a research report on Friday, October 12th. Roth Capital started coverage on Menlo Therapeutics in a research report on Tuesday, July 24th. They issued a buy rating and a $29.00 price objective on the stock. Finally, KeyCorp started coverage on Menlo Therapeutics in a research report on Tuesday, July 24th. They issued a buy rating on the stock. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of Buy and a consensus price target of $24.43.

Shares of NASDAQ:MNLO traded up $0.36 during trading on Thursday, hitting $6.92. 102,345 shares of the company were exchanged, compared to its average volume of 198,925. Menlo Therapeutics has a 52-week low of $5.40 and a 52-week high of $39.86.

Menlo Therapeutics (NASDAQ:MNLO) last posted its earnings results 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 analysts’ expectations of $1.04 million. On average, analysts predict that Menlo Therapeutics will post -2.89 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of MNLO. Schwab Charles Investment Management Inc. bought a new position in Menlo Therapeutics in the first quarter valued at $1,084,000. Northern Trust Corp bought a new position in Menlo Therapeutics in the first quarter valued at $2,583,000. BlackRock Inc. bought a new position in Menlo Therapeutics in the first quarter valued at $17,185,000. California State Teachers Retirement System bought a new position in Menlo Therapeutics in the first quarter valued at $368,000. Finally, First Manhattan Co. bought a new position in Menlo Therapeutics in the second quarter valued at $248,000. Institutional investors own 66.05% 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.

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

Analyst Recommendations for Menlo Therapeutics (NASDAQ:MNLO)

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