Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Menlo Therapeutics Inc (MNLO) yesterday and set a price target of $25. The company’s shares closed yesterday at $8.46, close to its 52-week low of $3.74.
Chen said:
“. After a solid quarter of execution in 4Q18, we reiterate our OW rating and 12-month price target of $25 for MNLO shares. We continue to believe that upward earnings revisions and multiple expansion will drive the stock higher. A greater appreciation for the company’s multiple indication approach for serlopitant will increase earnings estimates to levels not yet reflected in consensus expectations, in our view.”
According to TipRanks.com, Chen is a 5-star analyst with an average return of 14.0% and a 41.4% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Melinta Therapeutics Inc.
Menlo Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $25.
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Based on Menlo Therapeutics Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $12.85 million. In comparison, last year the company had a GAAP net loss of $9.28 million.
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Menlo Therapeutics Inc. is a biopharmaceutical company focused on the development and commercialization of serlopitant for the treatment of pruritus, or itch, associated with dermatologic conditions such as atopic dermatitis, psoriasis and prurigo nodularis. The company was founded in October, 2011 and is headquartered in Redwood City, CA.
