Shares of Menlo Therapeutics Inc (NASDAQ:MNLO) have earned an average rating of “Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $18.00.
A number of equities research analysts have issued reports on the company. Cantor Fitzgerald restated a “buy” rating and set a $25.00 price objective on shares of Menlo Therapeutics in a research report on Wednesday, February 27th. Zacks Investment Research cut Menlo Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, February 14th.
Several institutional investors and hedge funds have recently modified their holdings of MNLO. BlackRock Inc. raised its stake in Menlo Therapeutics by 16.5% during the third 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. Virtu Financial LLC purchased a new position in Menlo Therapeutics in the 3rd quarter worth approximately $126,000. JPMorgan Chase & Co. lifted its stake in Menlo Therapeutics by 365.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 596,959 shares of the company’s stock worth $5,879,000 after purchasing an additional 468,759 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Menlo Therapeutics in the 3rd quarter worth approximately $308,000. Finally, TIAA CREF Investment Management LLC purchased a new position in Menlo Therapeutics in the 3rd quarter worth approximately $184,000. Hedge funds and other institutional investors own 71.36% of the company’s stock.
Shares of MNLO stock opened at $7.33 on Friday. Menlo Therapeutics has a 1 year low of $3.74 and a 1 year high of $12.00. The company has a market cap of $170.48 million, a price-to-earnings ratio of -3.09 and a beta of 3.63.
Menlo Therapeutics (NASDAQ:MNLO) last issued its quarterly earnings data on Wednesday, February 27th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.03. During the same period in the previous year, the company earned ($1.80) EPS. As a group, equities research analysts predict that Menlo Therapeutics will post -3.39 EPS for the current year.
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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