Menlo Therapeutics (NASDAQ:MNLO) had its price objective reduced by equities research analysts at Barclays from $8.00 to $2.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 66.67% from the company’s previous close.
Several other analysts have also recently issued reports on the company. Bank of America began coverage on Menlo Therapeutics in a research note on Wednesday, March 11th. They set a “buy” rating and a $8.00 price objective on the stock. HC Wainwright lowered their target price on Menlo Therapeutics from $8.00 to $2.00 and set a “buy” rating for the company in a report on Tuesday. Zacks Investment Research raised Menlo Therapeutics from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a report on Wednesday, March 25th. Finally, ValuEngine raised Menlo Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, January 24th. Six research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $8.10.
NASDAQ MNLO traded up $0.14 on Tuesday, hitting $1.20. 4,044,149 shares of the stock traded hands, compared to its average volume of 937,441. The stock has a 50-day moving average of $3.25 and a 200 day moving average of $4.45. Menlo Therapeutics has a twelve month low of $1.00 and a twelve month high of $7.85. The company has a market capitalization of $25.91 million, a P/E ratio of -0.39 and a beta of 1.84.
Hedge funds have recently modified their holdings of the stock. UBS Group AG boosted its stake in Menlo Therapeutics by 45.1% during the 4th quarter. UBS Group AG now owns 19,164 shares of the company’s stock valued at $89,000 after purchasing an additional 5,956 shares in the last quarter. Geode Capital Management LLC boosted its stake in Menlo Therapeutics by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 129,905 shares of the company’s stock valued at $602,000 after purchasing an additional 5,965 shares in the last quarter. Barclays PLC boosted its stake in Menlo Therapeutics by 100.1% during the 4th quarter. Barclays PLC now owns 15,787 shares of the company’s stock valued at $73,000 after purchasing an additional 7,898 shares in the last quarter. Virtu Financial LLC bought a new position in Menlo Therapeutics during the 4th quarter valued at $59,000. Finally, Alambic Investment Management L.P. boosted its stake in Menlo Therapeutics by 30.7% during the 4th quarter. Alambic Investment Management L.P. now owns 53,851 shares of the company’s stock valued at $250,000 after purchasing an additional 12,663 shares in the last quarter. 73.17% of the stock is owned by institutional investors and hedge funds.
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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