Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Soleno Therapeutics, Inc. has received a consensus rating of "Moderate Buy" from 14 analysts, with one analyst recommending a sell and 12 recommending buy.
• The average 12-month price target for Soleno Therapeutics is $115.92, with Oppenheimer recently raising their target from $105.00 to $110.00.
• The company's stock performance has seen significant growth, reporting earnings that beat consensus estimates and achieving a revenue of $32.66 million compared to expectations of $3.91 million.

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) has earned a consensus rating of "Moderate Buy" from the fourteen analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $115.9167.

A number of research firms have recently issued reports on SLNO. Oppenheimer increased their target price on Soleno Therapeutics from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Soleno Therapeutics in a report on Wednesday, October 8th. TD Cowen began coverage on Soleno Therapeutics in a report on Monday, June 23rd. They issued a "buy" rating and a $110.00 target price for the company. Wall Street Zen upgraded Soleno Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Robert W. Baird set a $121.00 target price on Soleno Therapeutics and gave the company an "outperform" rating in a report on Friday, July 11th.

Institutional Trading of Soleno Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of SLNO. Raymond James Financial Inc. purchased a new stake in shares of Soleno Therapeutics during the second quarter worth $25,000. Nisa Investment Advisors LLC raised its holdings in shares of Soleno Therapeutics by 287.8% during the second quarter. Nisa Investment Advisors LLC now owns 539 shares of the company's stock worth $45,000 after acquiring an additional 400 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Soleno Therapeutics by 37.5% during the first quarter. AlphaQuest LLC now owns 983 shares of the company's stock worth $70,000 after acquiring an additional 268 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of Soleno Therapeutics by 97.7% during the second quarter. Osaic Holdings Inc. now owns 856 shares of the company's stock worth $72,000 after acquiring an additional 423 shares in the last quarter. Finally, KBC Group NV purchased a new stake in shares of Soleno Therapeutics during the second quarter worth $77,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Soleno Therapeutics Price Performance

Shares of NASDAQ:SLNO opened at $68.00 on Friday. The stock has a fifty day moving average of $65.51 and a 200-day moving average of $73.39. The company has a market capitalization of $3.61 billion, a PE ratio of -16.43 and a beta of -2.75. Soleno Therapeutics has a one year low of $41.50 and a one year high of $90.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.01 and a current ratio of 15.13.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.53) by $0.44. The business had revenue of $32.66 million during the quarter, compared to analysts' expectations of $3.91 million. As a group, equities analysts anticipate that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Soleno Therapeutics Company Profile

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.

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