Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

• Soleno Therapeutics has received an average consensus recommendation of "Buy" from twelve analysts, with a price target of approximately $115.09.
• The company reported earnings of ($0.09) per share, significantly better than the consensus estimate of ($0.53), and its revenue reached $32.66 million for the last quarter.
• Insider Patricia C. Hirano sold 3,830 shares recently, decreasing her ownership by 22.48%, while institutional investors hold 97.42% of the company's stock.

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) have been assigned an average recommendation of "Buy" from the twelve analysts that are covering the stock, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $115.0909.

A number of equities analysts have issued reports on the stock. HC Wainwright reissued a "buy" rating and issued a $110.00 target price (up previously from $100.00) on shares of Soleno Therapeutics in a report on Monday, August 18th. Robert W. Baird set a $121.00 price target on Soleno Therapeutics and gave the company an "outperform" rating in a report on Friday, July 11th. Cowen reaffirmed a "buy" rating on shares of Soleno Therapeutics in a report on Thursday, August 7th. Wall Street Zen raised Soleno Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Guggenheim reaffirmed a "buy" rating and set a $106.00 price target on shares of Soleno Therapeutics in a report on Wednesday.

Soleno Therapeutics Stock Performance

Shares of NASDAQ SLNO opened at $67.68 on Thursday. The company has a quick ratio of 15.01, a current ratio of 15.13 and a debt-to-equity ratio of 0.21. The firm's 50-day moving average price is $81.33 and its two-hundred day moving average price is $70.18. Soleno Therapeutics has a 52-week low of $41.50 and a 52-week high of $90.32. The stock has a market capitalization of $3.60 billion, a P/E ratio of -16.35 and a beta of -2.56.

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

Insider Buying and Selling at Soleno Therapeutics

In other news, insider Patricia C. Hirano sold 3,830 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $82.76, for a total transaction of $316,970.80. Following the sale, the insider owned 13,206 shares of the company's stock, valued at approximately $1,092,928.56. The trade was a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 6.40% of the company's stock.

Institutional Investors Weigh In On Soleno Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC raised its holdings in Soleno Therapeutics by 27.1% during the fourth quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company's stock worth $233,130,000 after purchasing an additional 1,107,166 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Soleno Therapeutics by 58.2% during the first quarter. Adage Capital Partners GP L.L.C. now owns 4,392,696 shares of the company's stock worth $313,858,000 after purchasing an additional 1,616,720 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Soleno Therapeutics by 47.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,400,418 shares of the company's stock worth $171,510,000 after purchasing an additional 769,700 shares in the last quarter. Westfield Capital Management Co. LP grew its position in Soleno Therapeutics by 18.0% in the second quarter. Westfield Capital Management Co. LP now owns 1,429,756 shares of the company's stock worth $119,785,000 after buying an additional 218,511 shares during the last quarter. Finally, State Street Corp grew its position in Soleno Therapeutics by 20.2% in the second quarter. State Street Corp now owns 1,404,983 shares of the company's stock worth $117,709,000 after buying an additional 235,784 shares during the last quarter. Institutional investors own 97.42% of the company's stock.

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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