Soleno Therapeutics (NASDAQ:SLNO) Posts Quarterly Earnings Results, Beats Expectations By $0.39 EPS

Soleno Therapeutics (NASDAQ:SLNO) issued its quarterly earnings results on Tuesday. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.39, Zacks reports.

Soleno Therapeutics Price Performance

NASDAQ:SLNO traded down $1.80 on Tuesday, hitting $63.85. The company had a trading volume of 3,146,434 shares, compared to its average volume of 1,299,755. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of -15.42 and a beta of -2.75. The company has a current ratio of 15.13, a quick ratio of 15.01 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $63.73 and a two-hundred day moving average of $73.50. Soleno Therapeutics has a 52 week low of $41.50 and a 52 week high of $90.32.

Analyst Ratings Changes

Several research firms recently issued reports on SLNO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Wednesday, October 8th. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 10th. Oppenheimer increased their price target on shares of Soleno Therapeutics from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. The Goldman Sachs Group set a $125.00 price target on shares of Soleno Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, Wells Fargo & Company began coverage on shares of Soleno Therapeutics in a research report on Wednesday, August 20th. They set an “overweight” rating and a $123.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $115.92.

Hedge Funds Weigh In On Soleno Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in Soleno Therapeutics in the 2nd quarter valued at approximately $25,000. Osaic Holdings Inc. raised its stake in shares of Soleno Therapeutics by 97.7% during the second quarter. Osaic Holdings Inc. now owns 856 shares of the company’s stock valued at $72,000 after acquiring an additional 423 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Soleno Therapeutics during the second quarter valued at $204,000. Orion Porfolio Solutions LLC bought a new position in shares of Soleno Therapeutics during the second quarter valued at $215,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Soleno Therapeutics by 137.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,116 shares of the company’s stock valued at $261,000 after acquiring an additional 1,806 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.

About Soleno Therapeutics

Soleno Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is Diazoxide Choline Extended-Release tablets, a once-daily oral tablet, which is in Phase III clinical trials for the treatment of Prader-Willi Syndrome.