Menlo Therapeutics Inc (NASDAQ:MNLO) – Equities research analysts at Jefferies Financial Group lifted their FY2019 EPS estimates for shares of Menlo Therapeutics in a research note issued on Tuesday, October 9th. Jefferies Financial Group analyst D. Steinberg now anticipates that the company will earn ($3.04) per share for the year, up from their previous forecast of ($3.31). Jefferies Financial Group has a “Hold” rating and a $7.00 price target on the stock. Jefferies Financial Group also issued estimates for Menlo Therapeutics’ FY2020 earnings at ($1.96) EPS, FY2021 earnings at ($1.72) EPS and FY2022 earnings at ($2.26) EPS.
Several other equities analysts have also weighed in on MNLO. Zacks Investment Research upgraded shares of Menlo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Friday. Cantor Fitzgerald reiterated a “buy” rating and issued a $25.00 target price on shares of Menlo Therapeutics in a report on Monday, October 8th. Roth Capital initiated coverage on shares of Menlo Therapeutics in a report on Tuesday, July 24th. They issued a “buy” rating and a $29.00 target price on the stock. Finally, KeyCorp initiated coverage on shares of Menlo Therapeutics in a report on Tuesday, July 24th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $24.43.
MNLO opened at $6.53 on Thursday. The stock has a market cap of $226.33 million and a P/E ratio of -1.15. Menlo Therapeutics has a twelve month low of $5.63 and a twelve month high of $39.86.
Menlo Therapeutics (NASDAQ:MNLO) last posted its quarterly earnings results on Wednesday, August 1st. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.39. The business had revenue of $10.14 million for the quarter, compared to analyst estimates of $1.04 million.
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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Several institutional investors have recently added to or reduced their stakes in MNLO. BlackRock Inc. purchased a new stake in shares of Menlo Therapeutics in the 1st quarter valued at approximately $17,185,000. DAFNA Capital Management LLC purchased a new stake in shares of Menlo Therapeutics in the 2nd quarter valued at approximately $2,533,000. Millennium Management LLC purchased a new stake in shares of Menlo Therapeutics in the 2nd quarter valued at approximately $1,738,000. JPMorgan Chase & Co. purchased a new stake in shares of Menlo Therapeutics in the 1st quarter valued at approximately $4,329,000. Finally, Novo Holdings A S raised its stake in shares of Menlo Therapeutics by 5.5% in the 2nd quarter. Novo Holdings A S now owns 1,436,313 shares of the company’s stock valued at $11,663,000 after acquiring an additional 75,000 shares during the period. 62.06% 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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