Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $114.50 Consensus Target Price from Analysts

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have earned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $114.50.

A number of brokerages recently commented on SLNO. Weiss Ratings restated a “sell (d-)” rating on shares of Soleno Therapeutics in a report on Wednesday, October 8th. Guggenheim reissued a “buy” rating and issued a $106.00 price target on shares of Soleno Therapeutics in a research note on Wednesday, August 27th. Oppenheimer upped their price objective on Soleno Therapeutics from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. HC Wainwright reiterated 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. Finally, The Goldman Sachs Group set a $125.00 target price on Soleno Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 7th.

Soleno Therapeutics Stock Down 0.8%

Shares of Soleno Therapeutics stock opened at $47.35 on Tuesday. Soleno Therapeutics has a 1 year low of $41.50 and a 1 year high of $90.32. 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 has a market capitalization of $2.54 billion, a P/E ratio of -11.44 and a beta of -2.92. The business has a 50-day moving average of $60.67 and a two-hundred day moving average of $72.21.

Soleno Therapeutics (NASDAQ:SLNO) last posted 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 the consensus estimate of $47.46 million. As a group, equities analysts predict that Soleno Therapeutics will post -3.72 EPS for the current year.

Institutional Investors Weigh In On Soleno Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLNO. Adage Capital Partners GP L.L.C. boosted its stake in shares of Soleno Therapeutics by 58.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 4,392,696 shares of the company’s stock worth $313,858,000 after buying an additional 1,616,720 shares during the last quarter. Invesco Ltd. grew its stake in Soleno Therapeutics by 132.3% in the third quarter. Invesco Ltd. now owns 1,500,525 shares of the company’s stock valued at $101,435,000 after purchasing an additional 854,551 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Soleno Therapeutics by 47.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,400,418 shares of the company’s stock valued at $171,510,000 after purchasing an additional 769,700 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Soleno Therapeutics by 348.4% during the 3rd quarter. Franklin Resources Inc. now owns 835,751 shares of the company’s stock worth $56,497,000 after purchasing an additional 649,349 shares during the last quarter. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new stake in shares of Soleno Therapeutics during the 2nd quarter worth approximately $42,089,000. 97.42% of the stock is currently 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.