Menlo Therapeutics (MNLO) Reaches New 1-Year Low at $5.24

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Menlo Therapeutics Inc (NASDAQ:MNLO) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $5.24 and last traded at $5.31, with a volume of 5439 shares changing hands. The stock had previously closed at $5.66.

MNLO has been the subject of several analyst reports. Zacks Investment Research raised shares of Menlo Therapeutics from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a report on Friday, October 12th. Cantor Fitzgerald initiated coverage on shares of Menlo Therapeutics in a report on Thursday, September 6th. They issued an “overweight” rating and a $25.00 price target for the company. ValuEngine raised shares of Menlo Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Finally, Jefferies Financial Group cut their price target on shares of Menlo Therapeutics to $7.00 and set a “hold” rating for the company in a report on Tuesday, October 9th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Menlo Therapeutics presently has an average rating of “Buy” and an average price target of $24.43.

The stock has a market cap of $131.49 million and a price-to-earnings ratio of -0.97.

Menlo Therapeutics (NASDAQ:MNLO) last posted its quarterly earnings data on Wednesday, November 7th. The company reported ($0.56) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.89) by $0.33. Menlo Therapeutics had a negative net margin of 268.61% and a negative return on equity of 41.70%. On average, analysts forecast that Menlo Therapeutics Inc will post -2.48 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Menlo Therapeutics by 75.3% during the 3rd quarter. Vanguard Group Inc. now owns 458,931 shares of the company’s stock valued at $4,521,000 after buying an additional 197,188 shares in the last quarter. TIAA CREF Investment Management LLC purchased a new stake in shares of Menlo Therapeutics during the 3rd quarter valued at $184,000. Renaissance Technologies LLC purchased a new stake in shares of Menlo Therapeutics during the 3rd quarter valued at $308,000. Tekla Capital Management LLC purchased a new stake in shares of Menlo Therapeutics during the 3rd quarter valued at $244,000. Finally, JPMorgan Chase & Co. raised its position in shares of Menlo Therapeutics by 365.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 596,959 shares of the company’s stock valued at $5,879,000 after buying an additional 468,759 shares in the last quarter. Hedge funds and other institutional investors own 70.20% of the company’s stock.

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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.

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