Soleno Therapeutics (NASDAQ:SLNO) Stock Rating Upgraded by Wolfe Research

Soleno Therapeutics (NASDAQ:SLNO) was upgraded by equities research analysts at Wolfe Research to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $110.00 price objective (up from $100.00) on shares of Soleno Therapeutics in a report on Monday, August 18th. Oppenheimer raised 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. Cowen reaffirmed a “buy” rating on shares of Soleno Therapeutics in a report on Thursday, August 7th. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 10th. Finally, Wall Street Zen raised shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Soleno Therapeutics presently has an average rating of “Buy” and an average price target of $111.46.

Soleno Therapeutics Stock Performance

Shares of SLNO stock opened at $47.00 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 15.13 and a quick ratio of 15.01. The company’s fifty day moving average price is $59.07 and its two-hundred day moving average price is $71.45. The firm has a market capitalization of $2.52 billion, a P/E ratio of -11.35 and a beta of -2.92. Soleno Therapeutics has a 12 month low of $41.50 and a 12 month high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Tuesday, November 4th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.39. The business had revenue of $66.02 million for the quarter, compared to analysts’ expectations of $47.46 million. On average, research analysts anticipate that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Institutional Trading of Soleno Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of SLNO. Mutual of America Capital Management LLC bought a new position in shares of Soleno Therapeutics in the 1st quarter worth about $5,186,000. Victory Capital Management Inc. acquired a new position in Soleno Therapeutics in the first quarter valued at approximately $288,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Soleno Therapeutics in the first quarter valued at approximately $2,608,000. Legato Capital Management LLC bought a new position in shares of Soleno Therapeutics during the first quarter valued at approximately $310,000. Finally, Royce & Associates LP acquired a new stake in shares of Soleno Therapeutics during the 1st quarter worth approximately $286,000. 97.42% of the stock is owned by institutional investors and hedge funds.

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.