In a report released today, Tim Chiang from Northland Securities maintained a Buy rating on Menlo Therapeutics (MNLO). The company’s shares closed last Wednesday at $1.97, close to its 52-week low of $1.00.
According to TipRanks.com, Chiang is a 2-star analyst with an average return of 0.1% and a 48.2% success rate. Chiang covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, Pacira Pharmaceuticals, and BioDelivery.
Currently, the analyst consensus on Menlo Therapeutics is a Strong Buy with an average price target of $7.10, which is a 269.8% upside from current levels. In a report issued on May 12, H.C. Wainwright also reiterated a Buy rating on the stock with a $2.50 price target.
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Based on Menlo Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.75 million and GAAP net loss of $40.23 million. In comparison, last year the company had a GAAP net loss of $18.87 million.
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Menlo Therapeutics Inc. operates as biopharmaceutical company which is 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.
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