Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Consensus Rating of “Buy” by Brokerages

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have received a consensus rating of “Buy” from the fifteen research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, twelve have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $110.6154.

Several research analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price target (up previously from $110.00) on shares of Soleno Therapeutics in a research note on Tuesday. Robert W. Baird set a $107.00 target price on shares of Soleno Therapeutics in a research report on Tuesday, January 13th. Wolfe Research set a $60.00 price target on shares of Soleno Therapeutics in a research note on Monday, January 12th. Wall Street Zen raised Soleno Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, The Goldman Sachs Group set a $125.00 target price on Soleno Therapeutics and gave the company a “buy” rating in a research report on Tuesday, October 7th.

Soleno Therapeutics Price Performance

Shares of SLNO stock opened at $42.36 on Friday. The stock has a 50 day moving average price of $47.11 and a 200 day moving average price of $61.10. Soleno Therapeutics has a 52-week low of $39.43 and a 52-week high of $90.32. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.88 and a current ratio of 16.08. The firm has a market capitalization of $2.28 billion, a P/E ratio of -23.02 and a beta of -3.12.

Soleno Therapeutics (NASDAQ:SLNO) last released its earnings results on Tuesday, November 4th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.39. The business had revenue of $66.02 million during the quarter, compared to analysts’ expectations of $47.46 million. As a group, sell-side analysts predict that Soleno Therapeutics will post -3.72 earnings per share for the current year.

Institutional Trading of Soleno Therapeutics

A number of hedge funds have recently added to or reduced their stakes in SLNO. Raymond James Financial Inc. acquired a new stake in Soleno Therapeutics during the second quarter valued at $25,000. Danske Bank A S purchased a new stake in shares of Soleno Therapeutics during the 3rd quarter worth about $27,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Soleno Therapeutics during the 3rd quarter worth about $37,000. Nisa Investment Advisors LLC grew its position in shares of Soleno Therapeutics by 287.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 539 shares of the company’s stock valued at $45,000 after acquiring an additional 400 shares during the period. Finally, Quarry LP purchased a new position in shares of Soleno Therapeutics in the 3rd quarter valued at about $47,000. 97.42% of the stock is owned by hedge funds and other institutional investors.

Soleno Therapeutics Company Profile

Soleno Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development and commercialization of therapies for rare and orphan diseases. Headquartered in Redwood City, California, Soleno leverages a precision medicine approach to identify and advance small‐molecule treatments that address underlying genetic and metabolic dysfunctions. The company’s scientific strategy centers on repurposing and reformulating existing compounds to maximize therapeutic benefit in underserved patient populations.

The company’s lead candidate, diazoxide choline controlled release (DCCR), is being investigated for the treatment of Prader-Willi syndrome (PWS), a complex neurodevelopmental disorder characterized by insatiable appetite, hormonal imbalances and behavioral challenges.