Menlo Therapeutics (NASDAQ:MNLO) had its price objective trimmed by Jefferies Financial Group to $7.00 in a report released on Tuesday morning, The Fly reports. The brokerage currently has a hold rating on the stock. Jefferies Financial Group also issued estimates for Menlo Therapeutics’ FY2019 earnings at ($3.04) EPS, FY2020 earnings at ($1.96) EPS, FY2021 earnings at ($1.72) EPS and FY2022 earnings at ($2.26) EPS.
Several other equities research analysts also recently weighed in on MNLO. Zacks Investment Research downgraded shares of Menlo Therapeutics from a buy rating to a hold rating in a report on Wednesday, July 11th. Roth Capital began coverage on shares of Menlo Therapeutics in a report on Tuesday, July 24th. They issued a buy rating and a $29.00 price objective for the company. KeyCorp began coverage on shares of Menlo Therapeutics in a research report on Tuesday, July 24th. They issued a buy rating on the stock. Finally, Cantor Fitzgerald began coverage on shares of Menlo Therapeutics in a research report on Thursday, September 6th. They issued an overweight rating and a $25.00 price target on the stock. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Menlo Therapeutics currently has a consensus rating of Buy and a consensus target price of $24.43.
Get Menlo Therapeutics alerts:MNLO stock opened at $6.53 on Tuesday. The stock has a market capitalization of $226.33 million and a P/E ratio of -1.15. Menlo Therapeutics has a fifty-two week low of $5.63 and a fifty-two week high of $39.86.
Menlo Therapeutics (NASDAQ:MNLO) last posted its quarterly earnings data on Wednesday, August 1st. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.39. The company had revenue of $10.14 million during the quarter, compared to analyst estimates of $1.04 million. Analysts forecast that Menlo Therapeutics will post -2.89 EPS for the current fiscal year.
In other Menlo Therapeutics news, insider Presidio Partners 2007 Gp, L.P sold 500,000 shares of the business’s stock in a transaction dated Tuesday, July 24th. The shares were sold at an average price of $7.65, for a total value of $3,825,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
A number of institutional investors have recently modified their holdings of MNLO. BlackRock Inc. bought a new stake in Menlo Therapeutics in the first quarter worth about $17,185,000. Rock Springs Capital Management LP acquired a new stake in Menlo Therapeutics during the 1st quarter worth about $12,401,000. DAFNA Capital Management LLC acquired a new stake in Menlo Therapeutics during the 2nd quarter worth about $2,533,000. Millennium Management LLC acquired a new stake in Menlo Therapeutics during the 2nd quarter worth about $1,738,000. Finally, Franklin Resources Inc. acquired a new stake in Menlo Therapeutics during the 1st quarter worth about $7,516,000. Hedge funds and other institutional investors own 62.06% 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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