Soleno Therapeutics (NASDAQ:SLNO) Price Target Cut to $85.00 by Analysts at TD Cowen

Soleno Therapeutics (NASDAQ:SLNO) had its price objective trimmed by TD Cowen from $120.00 to $85.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

SLNO has been the subject of several other research reports. Wall Street Zen upgraded shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective (up from $110.00) on shares of Soleno Therapeutics in a report on Tuesday, January 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Soleno Therapeutics in a research note on Thursday, January 22nd. Wells Fargo & Company restated an “overweight” rating and set a $114.00 target price (up from $106.00) on shares of Soleno Therapeutics in a research report on Tuesday, January 20th. Finally, Robert W. Baird set a $107.00 price target on Soleno Therapeutics in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Soleno Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $108.69.

Soleno Therapeutics Stock Performance

Shares of NASDAQ:SLNO opened at $38.09 on Thursday. The company has a current ratio of 16.08, a quick ratio of 15.88 and a debt-to-equity ratio of 0.10. Soleno Therapeutics has a 1-year low of $32.63 and a 1-year high of $90.32. The stock has a market capitalization of $2.05 billion, a P/E ratio of 165.62 and a beta of -3.16. The business has a 50-day moving average price of $42.80 and a two-hundred day moving average price of $53.86.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.64 by $0.16. The business had revenue of $91.73 million for the quarter, compared to analyst estimates of $88.55 million. Equities analysts predict that Soleno Therapeutics will post -3.72 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Emerald Mutual Fund Advisers Trust grew its position in Soleno Therapeutics by 9.1% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 405,651 shares of the company’s stock valued at $33,985,000 after purchasing an additional 33,954 shares in the last quarter. CenterBook Partners LP grew its holdings in shares of Soleno Therapeutics by 156.2% in the 3rd quarter. CenterBook Partners LP now owns 62,794 shares of the company’s stock valued at $4,245,000 after acquiring an additional 38,282 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Soleno Therapeutics by 255.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 280,984 shares of the company’s stock valued at $18,995,000 after acquiring an additional 201,983 shares during the last quarter. Castleark Management LLC bought a new stake in Soleno Therapeutics during the second quarter worth about $2,919,000. Finally, TimesSquare Capital Management LLC raised its holdings in Soleno Therapeutics by 52.6% during the third quarter. TimesSquare Capital Management LLC now owns 377,566 shares of the company’s stock worth $25,523,000 after acquiring an additional 130,197 shares in the last quarter. Institutional investors own 97.42% of the company’s stock.

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.