Menlo Therapeutics (NASDAQ:MNLO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The firm presently has a $7.00 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 14.75% from the company’s current price.

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. “

Separately, Cantor Fitzgerald reiterated a “buy” rating and set a $25.00 target price on shares of Menlo Therapeutics in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $17.00.

NASDAQ:MNLO opened at $6.10 on Tuesday. Menlo Therapeutics has a one year low of $3.74 and a one year high of $12.00. The company has a market cap of $148.16 million, a P/E ratio of -2.57 and a beta of 2.95.

Menlo Therapeutics (NASDAQ:MNLO) last posted its earnings results on Thursday, May 2nd. The company reported ($0.81) EPS for the quarter, hitting the consensus estimate of ($0.81). Analysts predict that Menlo Therapeutics will post -3.37 earnings per share for the current year.

A number of large investors have recently bought and sold shares of MNLO. First Manhattan Co. raised its holdings in Menlo Therapeutics by 70.3% during the 1st quarter. First Manhattan Co. now owns 2,256,903 shares of the company’s stock worth $17,716,000 after purchasing an additional 931,528 shares during the last quarter. Great Point Partners LLC raised its holdings in Menlo Therapeutics by 69.0% during the 4th quarter. Great Point Partners LLC now owns 2,204,407 shares of the company’s stock worth $9,082,000 after purchasing an additional 900,000 shares during the last quarter. venBio Partners LLC bought a new position in Menlo Therapeutics during the 1st quarter worth approximately $11,473,000. BlackRock Inc. raised its holdings in Menlo Therapeutics by 14.3% during the 1st quarter. BlackRock Inc. now owns 630,746 shares of the company’s stock worth $4,952,000 after purchasing an additional 79,063 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Menlo Therapeutics by 365.6% during the 3rd 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. Institutional investors and hedge funds own 80.05% 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; psoriasis; chronic pruritus; atopic dermatitis; and refractory chronic cough.

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