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

Soleno Therapeutics, Inc. (NASDAQ:SLNO) has received a consensus recommendation of “Buy” from the fifteen research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $111.4615.

SLNO has been the topic of several analyst reports. The Goldman Sachs Group set a $125.00 target price on shares of Soleno Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Wells Fargo & Company restated an “overweight” rating and issued a $106.00 price objective (down previously from $123.00) on shares of Soleno Therapeutics in a research report on Wednesday, November 5th. Wall Street Zen upgraded shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Wolfe Research started coverage on Soleno Therapeutics in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 target price on the stock. Finally, Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a report on Wednesday, September 10th.

Institutional Trading of Soleno Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Soleno Therapeutics by 1.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,360 shares of the company’s stock valued at $1,242,000 after purchasing an additional 189 shares during the period. AlphaQuest LLC increased its position in shares of Soleno Therapeutics by 37.5% during the first quarter. AlphaQuest LLC now owns 983 shares of the company’s stock valued at $70,000 after buying an additional 268 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Soleno Therapeutics during the second quarter valued at about $25,000. Principal Financial Group Inc. raised its stake in Soleno Therapeutics by 11.9% in the third quarter. Principal Financial Group Inc. now owns 3,197 shares of the company’s stock worth $216,000 after buying an additional 340 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Soleno Therapeutics by 2.4% in the third quarter. New York State Common Retirement Fund now owns 15,600 shares of the company’s stock worth $1,055,000 after buying an additional 360 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Trading Up 1.9%

NASDAQ SLNO opened at $47.17 on Wednesday. The firm has a market cap of $2.53 billion, a PE ratio of -25.64 and a beta of -3.12. Soleno Therapeutics has a 1-year low of $41.50 and a 1-year high of $90.32. The stock has a 50-day moving average of $51.10 and a 200-day moving average of $65.23. 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 (NASDAQ:SLNO) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.39. The company had revenue of $66.02 million during the quarter, compared to analysts’ expectations of $47.46 million. As a group, sell-side analysts forecast that Soleno Therapeutics will post -3.72 EPS for the current year.

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.