Soleno Therapeutics (NASDAQ:SLNO) Research Coverage Started at TD Cowen

TD Cowen began coverage on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research report sent to investors on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $110.00 price objective on the stock.

Several other research firms also recently commented on SLNO. Laidlaw lifted their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price target on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Cantor Fitzgerald boosted their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Guggenheim raised their target price on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Finally, UBS Group set a $105.00 target price on shares of Soleno Therapeutics in a research note on Thursday, March 27th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $107.10.

Soleno Therapeutics Price Performance

SLNO opened at $85.79 on Monday. The company has a current ratio of 19.64, a quick ratio of 19.64 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $4.32 billion, a P/E ratio of -18.57 and a beta of -2.69. The stock has a 50-day moving average price of $76.04 and a 200-day moving average price of $59.51. Soleno Therapeutics has a 12-month low of $36.93 and a 12-month high of $86.67.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.95) EPS for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.19. Equities analysts predict that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Insider Activity

In other Soleno Therapeutics news, Director Matthew Pauls sold 5,937 shares of Soleno Therapeutics stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $71.55, for a total transaction of $424,792.35. Following the sale, the director now directly owns 6,500 shares of the company’s stock, valued at approximately $465,075. The trade was a 47.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Patricia C. Hirano sold 3,782 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total value of $265,156.02. Following the completion of the transaction, the insider now owns 27,036 shares of the company’s stock, valued at approximately $1,895,493.96. The trade was a 12.27% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

Hedge funds have recently bought and sold shares of the business. AlphaQuest LLC lifted its holdings in shares of Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares during the last quarter. US Bancorp DE bought a new position in Soleno Therapeutics during the 4th quarter valued at approximately $34,000. Springhill Fund Asset Management HK Co Ltd purchased a new position in Soleno Therapeutics during the fourth quarter valued at $81,000. Summit Investment Advisors Inc. raised its stake in Soleno Therapeutics by 24.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company’s stock valued at $120,000 after buying an additional 522 shares during the last quarter. Finally, Quarry LP bought a new stake in Soleno Therapeutics in the first quarter worth $121,000. 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.