Soleno Therapeutics (NASDAQ:SLNO) Given Buy Rating at Guggenheim

Guggenheim reaffirmed their buy rating on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $106.00 target price on the stock.

Several other brokerages also recently commented on SLNO. Robert W. Baird set a $121.00 target price on shares of Soleno Therapeutics and gave the company an “outperform” rating in a report on Friday, July 11th. Cowen restated a “buy” rating on shares of Soleno Therapeutics in a research report on Thursday, August 7th. TD Cowen assumed coverage on shares of Soleno Therapeutics in a research report on Monday, June 23rd. They set a “buy” rating and a $110.00 price target for the company. Wall Street Zen upgraded shares of Soleno Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Oppenheimer increased their price target on shares of Soleno Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $115.09.

Soleno Therapeutics Trading Down 2.8%

NASDAQ:SLNO opened at $67.68 on Wednesday. The firm’s fifty day moving average is $81.33 and its 200-day moving average is $70.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.01 and a current ratio of 15.13. Soleno Therapeutics has a 52 week low of $41.50 and a 52 week high of $90.32. The firm has a market cap of $3.60 billion, a P/E ratio of -16.35 and a beta of -2.56.

Soleno Therapeutics (NASDAQ:SLNO) last released its earnings results on Wednesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.44. The company had revenue of $32.66 million for the quarter, compared to analyst estimates of $3.91 million. Equities analysts expect that Soleno Therapeutics will post -3.72 earnings per share for the current year.

Insiders Place Their Bets

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,830 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $82.76, for a total transaction of $316,970.80. Following the completion of the transaction, the insider owned 13,206 shares in the company, valued at $1,092,928.56. This trade represents a 22.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Soleno Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in Soleno Therapeutics by 4,377.3% during the first quarter. GAMMA Investing LLC now owns 3,358 shares of the company’s stock worth $240,000 after purchasing an additional 3,283 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of Soleno Therapeutics in the first quarter worth about $232,000. Mutual of America Capital Management LLC purchased a new stake in shares of Soleno Therapeutics in the first quarter worth about $5,186,000. Arizona State Retirement System raised its stake in Soleno Therapeutics by 9.2% in the first quarter. Arizona State Retirement System now owns 7,380 shares of the company’s stock valued at $527,000 after purchasing an additional 620 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in Soleno Therapeutics in the first quarter valued at approximately $288,000. Institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Company Profile

Soleno Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is Diazoxide Choline Extended-Release tablets, a once-daily oral tablet, which is in Phase III clinical trials for the treatment of Prader-Willi Syndrome.