“. After a solid quarter of execution in 3Q18, we reiterate our OW rating and 12-month price target of $25 for MNLO shares. We continue to believe that upward earnings revisions and multiple expansion will drive the stock higher. A greater appreciation for the company’s multiple indication approach for serlopitant will increase earnings estimates to levels not yet reflected in consensus expectations, in our view.”,” Cantor Fitzgerald’s analyst wrote.
Several other analysts have also recently issued reports on MNLO. Zacks Investment Research cut shares of Menlo Therapeutics from a buy rating to a hold rating in a research note on Wednesday, July 11th. KeyCorp started coverage on shares of Menlo Therapeutics in a research note on Tuesday, July 24th. They set a buy rating for the company. Roth Capital started coverage on shares of Menlo Therapeutics in a research note on Tuesday, July 24th. They set a buy rating and a $29.00 price objective for the company. Jefferies Financial Group lowered their price objective on shares of Menlo Therapeutics to $7.00 and set a hold rating for the company in a research note on Tuesday, October 9th. Finally, ValuEngine raised shares of Menlo Therapeutics from a hold rating to a buy rating in a research report on Thursday, November 1st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Menlo Therapeutics has a consensus rating of Buy and an average target price of $24.43.
Shares of NASDAQ MNLO traded up $0.33 during trading on Wednesday, hitting $7.35. 85,473 shares of the company traded hands, compared to its average volume of 113,745. Menlo Therapeutics has a 1 year low of $5.40 and a 1 year high of $39.86. The stock has a market capitalization of $163.37 million and a PE ratio of -1.29.
Menlo Therapeutics (NASDAQ:MNLO) last announced its quarterly earnings data on Wednesday, November 7th. The company reported ($0.56) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.89) by $0.33. On average, sell-side analysts forecast that Menlo Therapeutics will post -2.89 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System purchased a new stake in Menlo Therapeutics during the 1st quarter worth $368,000. Trexquant Investment LP purchased a new stake in Menlo Therapeutics during the 3rd quarter worth $151,000. First Manhattan Co. purchased a new stake in Menlo Therapeutics during the 2nd quarter worth $248,000. Northern Trust Corp purchased a new stake in Menlo Therapeutics during the 1st quarter worth $2,583,000. Finally, BlackRock Inc. boosted its position in Menlo Therapeutics by 16.5% during the 3rd quarter. BlackRock Inc. now owns 528,035 shares of the company’s stock worth $5,201,000 after purchasing an additional 74,683 shares during the period. 66.05% of the stock is owned by hedge funds and other institutional investors.
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.
Recommended Story: Penny Stocks
Receive News & Ratings for Menlo Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Menlo Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.