Brokerages Set Soleno Therapeutics, Inc. (NASDAQ:SLNO) Target Price at $110.62

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have been given a consensus recommendation of “Buy” by the fifteen analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, twelve have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $110.6154.

Several brokerages have recently issued reports on SLNO. Wolfe Research set a $60.00 price objective on Soleno Therapeutics in a research report on Monday, January 12th. Wall Street Zen upgraded shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $114.00 price target (up from $106.00) on shares of Soleno Therapeutics in a research note on Tuesday, January 20th. HC Wainwright reissued a “buy” rating and issued a $120.00 price objective (up previously from $110.00) on shares of Soleno Therapeutics in a research report on Tuesday, January 20th. Finally, Zacks Research raised shares of Soleno Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 5th.

Institutional Trading of Soleno Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of SLNO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Soleno Therapeutics by 1.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,360 shares of the company’s stock valued at $1,242,000 after acquiring an additional 189 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Soleno Therapeutics in the 2nd quarter valued at $25,000. Avanza Fonder AB boosted its holdings in Soleno Therapeutics by 11.2% during the fourth quarter. Avanza Fonder AB now owns 3,195 shares of the company’s stock worth $148,000 after buying an additional 323 shares in the last quarter. Principal Financial Group Inc. grew its position in Soleno Therapeutics by 11.9% during the third quarter. Principal Financial Group Inc. now owns 3,197 shares of the company’s stock valued at $216,000 after buying an additional 340 shares during the period. Finally, New York State Common Retirement Fund grew its position in Soleno Therapeutics by 2.4% during the third quarter. New York State Common Retirement Fund now owns 15,600 shares of the company’s stock valued at $1,055,000 after buying an additional 360 shares during the period. 97.42% of the stock is owned by institutional investors and hedge funds.

Soleno Therapeutics Stock Performance

Shares of Soleno Therapeutics stock opened at $43.16 on Friday. The company has a quick ratio of 15.88, a current ratio of 16.08 and a debt-to-equity ratio of 0.10. The company has a market cap of $2.32 billion, a PE ratio of -23.46 and a beta of -3.12. The business has a 50 day moving average price of $46.91 and a 200-day moving average price of $60.38. Soleno Therapeutics has a 52 week low of $39.43 and a 52 week 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 for the quarter, topping the consensus estimate of $0.08 by $0.39. The business had revenue of $66.02 million for the quarter, compared to analyst estimates of $47.46 million. Equities analysts anticipate that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

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.