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 report released 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. “

Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald reissued a “buy” rating and issued a $25.00 price objective on shares of Menlo Therapeutics in a report on Wednesday, November 7th. ValuEngine raised Menlo Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $24.43.

MNLO stock opened at $6.36 on Thursday. The company has a market capitalization of $149.38 million and a PE ratio of -1.12. Menlo Therapeutics has a twelve month low of $3.74 and a twelve month high of $38.82.

Several hedge funds have recently bought and sold shares of the company. First Manhattan Co. raised 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 worth $9,326,000 after purchasing an additional 916,256 shares during the last quarter. JPMorgan Chase & Co. raised 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 worth $5,879,000 after purchasing an additional 468,759 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Menlo Therapeutics during the second quarter worth approximately $1,738,000. Vanguard Group Inc raised 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 worth $4,521,000 after purchasing an additional 197,188 shares during the last quarter. Finally, Vanguard Group Inc. raised 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 worth $4,521,000 after purchasing an additional 197,188 shares during the last quarter. 71.83% of the stock is 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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