Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Average Recommendation of “Buy” by Analysts

Soleno Therapeutics, Inc. (NASDAQ:SLNO) has been given an average recommendation of “Buy” by the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, twelve have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $110.6154.

A number of research firms recently weighed in on SLNO. Wall Street Zen raised shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. The Goldman Sachs Group set a $125.00 price objective on shares of Soleno Therapeutics and gave the company a “buy” rating in a research report on Tuesday, October 7th. Zacks Research upgraded shares of Soleno Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Monday, January 5th. 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 report on Tuesday. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $114.00 price objective (up from $106.00) on shares of Soleno Therapeutics in a research note on Tuesday.

Institutional Trading of Soleno Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in Soleno Therapeutics by 272.3% during the third quarter. Wellington Management Group LLP now owns 2,312,095 shares of the company’s stock worth $156,298,000 after buying an additional 1,691,057 shares during the period. Braidwell LP bought a new stake in shares of Soleno Therapeutics in the 3rd quarter worth about $86,662,000. Invesco Ltd. lifted its holdings in shares of Soleno Therapeutics by 132.3% in the 3rd quarter. Invesco Ltd. now owns 1,500,525 shares of the company’s stock worth $101,435,000 after acquiring an additional 854,551 shares during the last quarter. Commodore Capital LP boosted its stake in shares of Soleno Therapeutics by 121.3% during the 3rd quarter. Commodore Capital LP now owns 1,350,000 shares of the company’s stock worth $91,260,000 after purchasing an additional 740,000 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Soleno Therapeutics by 348.4% during the 3rd quarter. Franklin Resources Inc. now owns 835,751 shares of the company’s stock valued at $56,497,000 after purchasing an additional 649,349 shares during the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Trading Down 3.2%

Shares of SLNO stock opened at $42.36 on Friday. The company has a current ratio of 16.08, a quick ratio of 15.88 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of -23.02 and a beta of -3.12. Soleno Therapeutics has a 12-month low of $39.43 and a 12-month high of $90.32. The stock’s 50-day moving average price is $47.11 and its 200-day moving average price is $61.10.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.39. The firm had revenue of $66.02 million for the quarter, compared to analysts’ expectations of $47.46 million. Equities research analysts predict that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

About Soleno Therapeutics

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.