Soleno Therapeutics (NASDAQ:SLNO) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Soleno Therapeutics (NASDAQ:SLNO) from a strong-buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

SLNO has been the subject of several other research reports. HC Wainwright restated a “buy” rating and set a $120.00 price target (up previously from $110.00) on shares of Soleno Therapeutics in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Soleno Therapeutics in a research note on Thursday, January 22nd. Wells Fargo & Company reissued an “overweight” rating and set a $114.00 target price (up previously from $106.00) on shares of Soleno Therapeutics in a report on Tuesday, January 20th. Wolfe Research set a $60.00 target price on Soleno Therapeutics in a research report on Monday, January 12th. Finally, Wall Street Zen raised Soleno Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.62.

Soleno Therapeutics Price Performance

Shares of Soleno Therapeutics stock opened at $39.58 on Tuesday. The firm has a market cap of $2.13 billion, a PE ratio of -21.51 and a beta of -3.16. Soleno Therapeutics has a twelve month low of $37.95 and a twelve month high of $90.32. The company has a quick ratio of 15.88, a current ratio of 16.08 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $46.05 and a 200 day moving average price of $58.58.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.47 EPS for the quarter, beating 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. Sell-side analysts predict that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Institutional Trading of Soleno Therapeutics

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

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.