Soleno Therapeutics (NASDAQ:SLNO) Coverage Initiated by Analysts at The Goldman Sachs Group

Key Points

• Soleno Therapeutics has been upgraded to a "strong-buy" rating by The Goldman Sachs Group, with a price target of $125.00, indicating a potential upside of 99.23% from its previous close.
• The company reported a revenue of $32.66 million for its last quarter, significantly exceeding analysts' expectations of $3.91 million, and posted earnings per share of ($0.09), surpassing predictions as well.
• Institutional investors have shown significant interest, with 97.42% of the stock owned by hedge funds and other institutional entities, indicating strong market confidence in Soleno Therapeutics.

Analysts at The Goldman Sachs Group began coverage on shares of Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The firm set a "buy" rating and a $125.00 price target on the stock. The Goldman Sachs Group's target price indicates a potential upside of 99.23% from the company's previous close.

A number of other research analysts have also commented on the stock. Wells Fargo & Company began coverage on shares of Soleno Therapeutics in a research note on Wednesday, August 20th. They issued an "overweight" rating and a $123.00 price objective on the stock. Robert W. Baird set a $121.00 price objective on shares of Soleno Therapeutics and gave the company an "outperform" rating in a research note on Friday, July 11th. HC Wainwright restated a "buy" rating and issued a $110.00 price objective (up from $100.00) on shares of Soleno Therapeutics in a research note on Monday, August 18th. Oppenheimer lifted their price objective on shares of Soleno Therapeutics from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Soleno Therapeutics in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $115.92.

Soleno Therapeutics Price Performance

Shares of NASDAQ:SLNO opened at $62.74 on Tuesday. The company's fifty day moving average price is $67.62 and its 200 day moving average price is $73.17. Soleno Therapeutics has a 12 month low of $41.50 and a 12 month high of $90.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 15.13 and a quick ratio of 15.01. The firm has a market capitalization of $3.33 billion, a P/E ratio of -15.15 and a beta of -2.75.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.44. The company had revenue of $32.66 million for the quarter, compared to analyst estimates of $3.91 million. As a group, sell-side 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 added to or reduced their stakes in the stock. Optimize Financial Inc purchased a new stake in Soleno Therapeutics during the first quarter worth about $274,000. Scientech Research LLC boosted its holdings in Soleno Therapeutics by 120.5% during the first quarter. Scientech Research LLC now owns 11,620 shares of the company's stock worth $830,000 after buying an additional 6,351 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Soleno Therapeutics by 4,377.3% during the first quarter. GAMMA Investing LLC now owns 3,358 shares of the company's stock worth $240,000 after buying an additional 3,283 shares in the last quarter. Woodline Partners LP boosted its holdings in Soleno Therapeutics by 16.0% during the first quarter. Woodline Partners LP now owns 349,664 shares of the company's stock worth $24,983,000 after buying an additional 48,102 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in Soleno Therapeutics during the first quarter worth about $232,000. Hedge funds and other 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.