Zacks Research Upgrades Soleno Therapeutics (NASDAQ:SLNO) to “Strong-Buy”

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

Other equities research analysts have also issued research reports about the company. Wolfe Research assumed coverage on Soleno Therapeutics in a research note on Tuesday, November 18th. They set an “outperform” rating and a $75.00 price target on the stock. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 10th. Wells Fargo & Company reiterated an “overweight” rating and issued a $106.00 price objective (down from $123.00) on shares of Soleno Therapeutics in a research report on Wednesday, November 5th. Wall Street Zen upgraded shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $111.46.

Soleno Therapeutics Price Performance

Soleno Therapeutics stock opened at $46.44 on Monday. The company has a market cap of $2.49 billion, a P/E ratio of -25.36 and a beta of -3.12. Soleno Therapeutics has a one year low of $41.50 and a one year high of $90.32. The business has a fifty day moving average of $50.20 and a two-hundred day moving average of $64.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.88 and a current ratio of 16.08.

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

Institutional Trading of Soleno Therapeutics

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Soleno Therapeutics by 12.8% in the third quarter. Vanguard Group Inc. now owns 2,807,149 shares of the company’s stock valued at $189,763,000 after acquiring an additional 319,317 shares during the last quarter. Avoro Capital Advisors LLC raised its holdings in shares of Soleno Therapeutics by 25.7% in the 3rd quarter. Avoro Capital Advisors LLC now owns 2,577,777 shares of the company’s stock worth $174,258,000 after purchasing an additional 527,777 shares during the period. Wellington Management Group LLP lifted its stake in shares of Soleno Therapeutics by 272.3% in the 3rd quarter. Wellington Management Group LLP now owns 2,312,095 shares of the company’s stock valued at $156,298,000 after purchasing an additional 1,691,057 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Soleno Therapeutics by 132.3% during the 3rd quarter. Invesco Ltd. now owns 1,500,525 shares of the company’s stock worth $101,435,000 after purchasing an additional 854,551 shares during the period. Finally, Westfield Capital Management Co. LP lifted its position in Soleno Therapeutics by 18.0% during the second quarter. Westfield Capital Management Co. LP now owns 1,429,756 shares of the company’s stock valued at $119,785,000 after buying an additional 218,511 shares in the last quarter. 97.42% of the stock is owned by hedge funds and other institutional investors.

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.