Menlo Therapeutics (NASDAQ:MNLO) Shares Gap Down to $2.39

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Menlo Therapeutics Inc (NASDAQ:MNLO) shares gapped down prior to trading on Monday . The stock had previously closed at $2.44, but opened at $2.39. Menlo Therapeutics shares last traded at $2.39, with a volume of 26,351,200 shares changing hands.

A number of brokerages have commented on MNLO. HC Wainwright raised their price objective on Menlo Therapeutics from $2.50 to $3.50 and gave the stock a “buy” rating in a research report on Monday. Zacks Investment Research upgraded Menlo Therapeutics from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a research report on Wednesday, May 13th. Northland Securities raised their price objective on Menlo Therapeutics from $3.50 to $6.00 and gave the stock an “outperform” rating in a research report on Monday. BidaskClub upgraded Menlo Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Barclays raised their price objective on Menlo Therapeutics from $2.00 to $3.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Seven investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $4.50.

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.68 and a current ratio of 1.74. The firm has a market cap of $325.65 million, a P/E ratio of -0.73 and a beta of 1.20. The company has a 50-day moving average of $1.70 and a 200 day moving average of $3.70.

Menlo Therapeutics (NASDAQ:MNLO) last posted its earnings results on Monday, May 11th. The company reported ($0.95) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by ($0.41). The company had revenue of $1.75 million during the quarter, compared to analyst estimates of $2.21 million. Sell-side analysts anticipate that Menlo Therapeutics Inc will post -1.01 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of MNLO. Nations Financial Group Inc. IA ADV bought a new position in shares of Menlo Therapeutics during the 1st quarter worth approximately $27,000. Wetherby Asset Management Inc. bought a new position in shares of Menlo Therapeutics during the 1st quarter worth approximately $29,000. Steward Partners Investment Advisory LLC bought a new position in shares of Menlo Therapeutics during the 1st quarter worth approximately $32,000. Grace Capital bought a new position in shares of Menlo Therapeutics during the 1st quarter worth approximately $32,000. Finally, Nisa Investment Advisors LLC bought a new position in shares of Menlo Therapeutics during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 25.46% of the company’s stock.

About Menlo Therapeutics (NASDAQ:MNLO)

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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