Zacks Research Downgrades Soleno Therapeutics (NASDAQ:SLNO) to Hold

Soleno Therapeutics (NASDAQ:SLNO) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on SLNO. Wolfe Research set a $60.00 price target on Soleno Therapeutics in a report on Monday, January 12th. Robert W. Baird set a $107.00 target price on shares of Soleno Therapeutics in a research note on Tuesday, January 13th. Wells Fargo & Company reiterated 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. Wall Street Zen raised shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.62.

Soleno Therapeutics Stock Performance

Shares of SLNO stock opened at $42.12 on Tuesday. The stock’s 50-day moving average price is $46.25 and its 200 day moving average price is $58.71. 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 stock has a market capitalization of $2.26 billion, a PE ratio of -22.89 and a beta of -3.16. Soleno Therapeutics has a 52-week low of $37.95 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, beating the consensus estimate 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, equities research analysts forecast that Soleno Therapeutics will post -3.72 EPS for the current year.

Institutional Trading of Soleno Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Soleno Therapeutics by 1.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,360 shares of the company’s stock valued at $1,242,000 after purchasing an additional 189 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Soleno Therapeutics during the 2nd quarter worth approximately $25,000. Avanza Fonder AB lifted its stake in Soleno Therapeutics by 11.2% in the 4th quarter. Avanza Fonder AB now owns 3,195 shares of the company’s stock valued at $148,000 after buying an additional 323 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Soleno Therapeutics by 11.9% during the 3rd 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 last quarter. Finally, New York State Common Retirement Fund grew its holdings in Soleno Therapeutics by 2.4% during the 3rd 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 last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

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.