Menlo Therapeutics (MNLO) Downgraded by Zacks Investment Research

Menlo Therapeutics (NASDAQ:MNLO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

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. “

A number of other research analysts have also recently weighed in on MNLO. ValuEngine upgraded Menlo Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Cantor Fitzgerald restated a “buy” rating and issued a $25.00 price target on shares of Menlo Therapeutics in a research report on Wednesday, November 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $24.43.

Shares of MNLO stock opened at $6.36 on Thursday. Menlo Therapeutics has a fifty-two week low of $3.74 and a fifty-two week high of $38.82. The firm has a market capitalization of $149.38 million and a PE ratio of -1.12.

Several institutional investors and hedge funds have recently bought and sold shares of MNLO. First Manhattan Co. boosted its stake in shares of Menlo Therapeutics by 2,999.4% during the third quarter. First Manhattan Co. now owns 946,804 shares of the company’s stock valued at $9,326,000 after acquiring an additional 916,256 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Menlo Therapeutics by 365.6% during the third quarter. JPMorgan Chase & Co. now owns 596,959 shares of the company’s stock valued at $5,879,000 after acquiring an additional 468,759 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Menlo Therapeutics during the second quarter valued at $1,738,000. Vanguard Group Inc boosted its stake in shares of Menlo Therapeutics by 75.3% during the third quarter. Vanguard Group Inc now owns 458,931 shares of the company’s stock valued at $4,521,000 after acquiring an additional 197,188 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Menlo Therapeutics by 75.3% during the third quarter. Vanguard Group Inc. now owns 458,931 shares of the company’s stock valued at $4,521,000 after acquiring an additional 197,188 shares during the last quarter. 71.83% of the stock is currently owned by institutional investors and hedge funds.

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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