Soleno Therapeutics' (SLNO) "Buy" Rating Reaffirmed at Guggenheim

Key Points

• Guggenheim reaffirmed a "Buy" rating for Soleno Therapeutics (SLNO) with a price target of $106.00, indicating a potential upside of 52.35%.
• Other analysts, including HC Wainwright and Wells Fargo, have also issued strong "Buy" ratings with target prices ranging from $110.00 to $123.00.
• Soleno reported an earnings beat in its latest quarterly data with an EPS of ($0.09), significantly beating expectations of ($0.53) per share.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Guggenheim in a report released on Wednesday,Benzinga reports. They currently have a $106.00 price objective on the stock. Guggenheim's target price points to a potential upside of 52.35% from the stock's previous close.

Several other analysts have also commented on SLNO. HC Wainwright reissued a "buy" rating and issued a $110.00 price objective (up from $100.00) on shares of Soleno Therapeutics in a report on Monday, August 18th. Robert W. Baird set a $121.00 target price on Soleno Therapeutics and gave the company an "outperform" rating in a research report on Friday, July 11th. Wells Fargo & Company began coverage on Soleno Therapeutics in a research report on Wednesday, August 20th. They issued an "overweight" rating and a $123.00 target price on the stock. Wall Street Zen upgraded Soleno Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Oppenheimer raised their target price on Soleno Therapeutics from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $115.09.

Soleno Therapeutics Stock Performance

Soleno Therapeutics stock traded down $0.03 during midday trading on Wednesday, hitting $69.58. 62,593 shares of the company were exchanged, compared to its average volume of 1,127,246. 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 has a fifty-two week low of $41.50 and a fifty-two week high of $90.32. The business has a fifty day simple moving average of $81.56 and a two-hundred day simple moving average of $70.19. The firm has a market capitalization of $3.70 billion, a PE ratio of -16.84 and a beta of -2.56.

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

Insiders Place Their Bets

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,830 shares of the company's stock in a transaction dated 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 in the company, valued at $1,092,928.56. This represents a 22.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Soleno Therapeutics

Large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in Soleno Therapeutics during the 2nd quarter worth about $25,000. Nisa Investment Advisors LLC increased its holdings in shares of Soleno Therapeutics by 287.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 539 shares of the company's stock valued at $45,000 after acquiring an additional 400 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of Soleno Therapeutics by 37.5% in the 1st quarter. AlphaQuest LLC now owns 983 shares of the company's stock valued at $70,000 after acquiring an additional 268 shares during the last quarter. KBC Group NV purchased a new position in shares of Soleno Therapeutics in the 2nd quarter valued at about $77,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Soleno Therapeutics in the 2nd quarter valued at about $113,000. 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.

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