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MNLO

Menlo Therapeutics

$35.22

-1 (-2.76%)

06:11
04/09/18
04/09
06:11
04/09/18
06:11

Piper reiterates Overweight on Menlo Therapeutics after Phase II miss

Piper Jaffray analyst David Amsellem calls Menlo Therapeutics' serlopitant missing the primary and secondary endpoints in a Phase IIb study in patients with pruritis associated with atopic dermatitis as "big disappointment." The analyst, however, does not infer that the setback in atopic dermatitis "necessarily raises the risk" surrounding the prurigo nodularis Phase III trials. Prurigo nodularis is an altogether different condition, Amsellem tells investors in a research note. He believes last night's trial miss "should not call into question the overall viability of serlopitant as an anti-pruritic agent." Amsellem reiterates an Overweight rating on Menlo Therapeutics.

MNLO Menlo Therapeutics
$35.22

-1 (-2.76%)

02/20/18
JMPS
02/20/18
INITIATION
Target $44
JMPS
Outperform
Menlo Therapeutics initiated with an Outperform at JMP Securities
JMP Securities analyst Donald Ellis started Menlo Therapeutics with an Outperform rating and $44 price target, nothing that he forecasts launches of treatments of prurigo nodularis, psoriasis and atopic dermatitis in early 2022. Ellis believes the U.S. pruritus market could easily exceed $1B, he tells investors.
02/20/18
02/20/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Imax (IMAX) assumed with an Overweight at JPMorgan. 2. Gates Industrial (GTES) was initiated with an Outperform at RBC Capital and Credit Suisse, an Overweight at Morgan Stanley and KeyBanc, as well as a Buy at SunTrust, UBS, and Citi. 3. Menlo Therapeutics (MNLO) was initiated with an Outperform at JMP Securities, an Overweight at Piper Jaffray, and a Buy at Jefferies. 4. PlayAGS (AGS) was initiated with a Buy at SunTrust, BofA/Merrill, and Deutsche Bank. 5. PagSeguro Digital (PAGS) was initiated with a Neutral at JPMorgan, BofA/Merrill, UBS, and Deutsche Bank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/09/18
JEFF
04/09/18
DOWNGRADE
Target $20
JEFF
Hold
Menlo Therapeutics downgraded to Hold from Buy at Jefferies
Jefferies analyst David Steinberg downgraded Menlo Therapeutics to Hold and cut his price target for the shares to $20 from $41. The analyst is surprised that the Phase 2 clinical trial of serlopitant for the treatment of pruritus in adults and adolescents with a history of atopic dermatitis did not meet its primary or key secondary efficacy endpoints.

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