Soleno Therapeutics (NASDAQ:SLNO) Upgraded to Strong-Buy at Lifesci Capital

Key Points

• Soleno Therapeutics has been upgraded to a "strong-buy" rating by Lifesci Capital, indicating strong confidence in the company's future performance.
• The stock has recently shown a market capitalization of $3.19 billion and has a notable 52-week high of $90.32 and low of $41.50.
• In its latest earnings report, Soleno exceeded expectations with a revenue of $32.66 million, significantly outperforming the consensus estimate of $3.91 million.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) was upgraded by Lifesci Capital to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company assumed coverage on shares of Soleno Therapeutics in a report on Wednesday, August 20th. They issued an "overweight" rating and a $123.00 price target on the stock. Robert W. Baird set a $121.00 price target on shares of Soleno Therapeutics and gave the stock an "outperform" rating in a report on Friday, July 11th. TD Cowen assumed coverage on shares of Soleno Therapeutics in a report on Monday, June 23rd. They issued a "buy" rating and a $110.00 price target on the stock. Cowen reaffirmed a "buy" rating on shares of Soleno Therapeutics in a report on Thursday, August 7th. Finally, Oppenheimer lifted their price target on shares of Soleno Therapeutics from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company's stock. According to MarketBeat, Soleno Therapeutics presently has an average rating of "Buy" and an average price target of $115.09.

Soleno Therapeutics Price Performance

Soleno Therapeutics stock opened at $60.01 on Wednesday. Soleno Therapeutics has a 52 week low of $41.50 and a 52 week high of $90.32. The company's 50 day moving average price is $78.31 and its two-hundred day moving average price is $71.50. 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 stock has a market cap of $3.19 billion, a P/E ratio of -14.50 and a beta of -2.72.

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

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,830 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were 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 $1,092,928.56. The trade was a 22.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Soleno Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of SLNO. Adage Capital Partners GP L.L.C. raised its holdings in Soleno Therapeutics by 58.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 4,392,696 shares of the company's stock valued at $313,858,000 after acquiring an additional 1,616,720 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Soleno Therapeutics by 47.2% in 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 during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in shares of Soleno Therapeutics in the second quarter worth $42,089,000. Sofinnova Investments Inc. increased its holdings in shares of Soleno Therapeutics by 1,026.2% in the second quarter. Sofinnova Investments Inc. now owns 415,219 shares of the company's stock worth $34,787,000 after purchasing an additional 460,048 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Soleno Therapeutics by 3,789.4% in the first quarter. Invesco Ltd. now owns 467,193 shares of the company's stock worth $33,381,000 after purchasing an additional 455,181 shares during the period. 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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