Zacks Investment Research upgraded shares of Menlo Therapeutics (NASDAQ:MNLO) from a hold rating to a buy rating in a research note released on Wednesday, Zacks.com reports. They currently have $4.75 price target on the stock.
According to Zacks, “Menlo Therapeutics Inc. is a late stage biopharmaceutical company. It focused on the development of serlopitant and treatment of chronic itch and chronic refractory cough. The company’s product pipeline consists of Prurigo Nodularis Itch, Atopic Dermatitis Itch, Psoriasis Itch and Refractory Chronic Cough which are in clinical stage. Menlo Therapeutics Inc. is headquartered in Redwood City, California. “
Separately, HC Wainwright began coverage on Menlo Therapeutics in a research note on Friday, October 18th. They set a buy rating and a $11.00 price objective for the company.
Menlo Therapeutics (NASDAQ:MNLO) last released its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.07. As a group, sell-side analysts anticipate that Menlo Therapeutics will post -3.08 EPS for the current year.
Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in shares of Menlo Therapeutics by 28.2% in the 2nd quarter. Wells Fargo & Company MN now owns 30,136 shares of the company’s stock valued at $180,000 after acquiring an additional 6,622 shares during the period. Russell Investments Group Ltd. grew its holdings in Menlo Therapeutics by 13.7% during the second quarter. Russell Investments Group Ltd. now owns 47,821 shares of the company’s stock valued at $286,000 after purchasing an additional 5,762 shares during the period. Bank of New York Mellon Corp increased its stake in Menlo Therapeutics by 32.0% in the second quarter. Bank of New York Mellon Corp now owns 51,798 shares of the company’s stock valued at $311,000 after purchasing an additional 12,562 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Menlo Therapeutics by 30.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 53,425 shares of the company’s stock valued at $321,000 after purchasing an additional 12,498 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in Menlo Therapeutics by 73.7% in the second quarter. Parametric Portfolio Associates LLC now owns 66,972 shares of the company’s stock worth $401,000 after purchasing an additional 28,418 shares during the period. Institutional investors own 58.67% 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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