Analysts Set Soleno Therapeutics, Inc. (NASDAQ:SLNO) Price Target at $111.46

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

SLNO has been the subject of several research reports. Wolfe Research initiated coverage on Soleno Therapeutics in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Soleno Therapeutics in a report on Wednesday, October 8th. Wall Street Zen upgraded Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. The Goldman Sachs Group set a $125.00 target price on Soleno Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $106.00 target price (down from $123.00) on shares of Soleno Therapeutics in a report on Wednesday, November 5th.

Soleno Therapeutics Stock Performance

NASDAQ:SLNO opened at $47.17 on Wednesday. The firm has a market capitalization of $2.53 billion, a P/E ratio of -25.64 and a beta of -3.12. Soleno Therapeutics has a twelve month low of $41.50 and a twelve month high of $90.32. The company has a fifty day moving average of $51.10 and a 200-day moving average of $65.41. The company has a quick ratio of 15.88, a current ratio of 16.08 and a debt-to-equity ratio of 0.10.

Soleno Therapeutics (NASDAQ:SLNO) last posted 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 analyst estimates of $47.46 million. As a group, sell-side analysts anticipate that Soleno Therapeutics will post -3.72 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of Soleno Therapeutics during the second quarter worth about $25,000. Danske Bank A S bought a new stake in Soleno Therapeutics during the 3rd quarter worth approximately $27,000. Nisa Investment Advisors LLC raised its stake in shares of Soleno Therapeutics by 287.8% in the second quarter. Nisa Investment Advisors LLC now owns 539 shares of the company’s stock worth $45,000 after purchasing an additional 400 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Soleno Therapeutics in the third quarter worth approximately $37,000. Finally, Quarry LP bought a new position in shares of Soleno Therapeutics in the third quarter valued at approximately $47,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

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.