Shares of Menlo Therapeutics Inc (NASDAQ:MNLO) have been given an average rating of “Buy” by the seven brokerages that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $18.00.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Menlo Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Menlo Therapeutics in a research note on Wednesday, February 27th.
Shares of NASDAQ:MNLO traded up $0.12 during midday trading on Wednesday, hitting $7.97. The stock had a trading volume of 2,265 shares, compared to its average volume of 148,229. The stock has a market capitalization of $182.58 million, a PE ratio of -3.35 and a beta of 3.63. Menlo Therapeutics has a fifty-two week low of $3.74 and a fifty-two week high of $38.51.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in Menlo Therapeutics by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 84,387 shares of the company’s stock worth $347,000 after acquiring an additional 3,608 shares during the period. Great Point Partners LLC increased its stake in Menlo Therapeutics by 69.0% in the 4th quarter. Great Point Partners LLC now owns 2,204,407 shares of the company’s stock valued at $9,082,000 after purchasing an additional 900,000 shares in the last quarter. Bank of America Corp DE increased its stake in Menlo Therapeutics by 8.9% in the 4th quarter. Bank of America Corp DE now owns 42,160 shares of the company’s stock valued at $173,000 after purchasing an additional 3,448 shares in the last quarter. Alambic Investment Management L.P. purchased a new position in Menlo Therapeutics in the 4th quarter valued at approximately $710,000. Finally, Bank of New York Mellon Corp increased its stake in Menlo Therapeutics by 51.0% in the 4th quarter. Bank of New York Mellon Corp now owns 38,662 shares of the company’s stock valued at $159,000 after purchasing an additional 13,064 shares in the last quarter. 71.36% of the stock is currently owned by institutional investors and hedge funds.
Menlo Therapeutics Company Profile
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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