Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives Average Recommendation of “Hold” from Brokerages

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have been assigned an average rating of “Hold” from the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $76.6667.

SLNO has been the topic of a number of research analyst reports. Piper Sandler lowered Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. HC Wainwright lowered Soleno Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the stock from $100.00 to $53.00 in a research note on Wednesday, April 8th. Robert W. Baird lowered Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Wells Fargo & Company set a $53.00 target price on Soleno Therapeutics and gave the stock an “equal weight” rating in a research note on Friday, April 17th. Finally, Lifesci Capital lowered Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th.

Hedge Funds Weigh In On Soleno Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in shares of Soleno Therapeutics in the 2nd quarter worth about $25,000. Danske Bank A S purchased a new position in shares of Soleno Therapeutics in the 3rd quarter worth about $27,000. Global Retirement Partners LLC boosted its holdings in shares of Soleno Therapeutics by 519.0% in the 4th quarter. Global Retirement Partners LLC now owns 619 shares of the company’s stock worth $29,000 after purchasing an additional 519 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Soleno Therapeutics in the 3rd quarter worth about $37,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Soleno Therapeutics in the 4th quarter worth about $38,000. 97.42% of the stock is currently owned by institutional investors.

Soleno Therapeutics Stock Performance

NASDAQ:SLNO opened at $52.94 on Tuesday. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 230.18 and a beta of -2.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 5.32 and a current ratio of 5.62. The business’s fifty day moving average is $43.81 and its 200 day moving average is $46.16. Soleno Therapeutics has a 52-week low of $29.43 and a 52-week high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates 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. Soleno Therapeutics had a return on equity of 22.85% and a net margin of 33.70%. Research analysts predict that Soleno Therapeutics will post 3.67 EPS for the current 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.