Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $115.92 Consensus Price Target from Analysts

Soleno Therapeutics, Inc. (NASDAQ:SLNO) has been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $115.9167.

Several brokerages have recently issued reports on SLNO. TD Cowen began coverage on shares of Soleno Therapeutics in a research report on Monday, June 23rd. They issued a “buy” rating and a $110.00 target price on the stock. The Goldman Sachs Group set a $125.00 target price on shares of Soleno Therapeutics and gave the company a “buy” rating in a research report on Tuesday, October 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $110.00 target price (up previously from $100.00) on shares of Soleno Therapeutics in a research report on Monday, August 18th. Finally, Wells Fargo & Company assumed coverage on shares of Soleno Therapeutics in a research report on Wednesday, August 20th. They issued an “overweight” rating and a $123.00 target price on the stock.

Soleno Therapeutics Stock Down 3.7%

SLNO opened at $65.47 on Friday. The company has a fifty day moving average of $65.18 and a two-hundred day moving average of $73.38. Soleno Therapeutics has a fifty-two week low of $41.50 and a fifty-two week high of $90.32. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of -15.81 and a beta of -2.75. 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) last announced its earnings results on Wednesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.44. The company had revenue of $32.66 million during the quarter, compared to analyst estimates of $3.91 million. On average, research analysts expect that Soleno Therapeutics will post -3.72 earnings per share for the current year.

Hedge Funds Weigh In On Soleno Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of SLNO. GAMMA Investing LLC boosted its holdings in Soleno Therapeutics by 4,377.3% in the 1st quarter. GAMMA Investing LLC now owns 3,358 shares of the company’s stock valued at $240,000 after purchasing an additional 3,283 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Soleno Therapeutics by 8.6% in the 1st quarter. SG Americas Securities LLC now owns 4,397 shares of the company’s stock valued at $314,000 after purchasing an additional 350 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Soleno Therapeutics by 72.8% in the 1st quarter. Avior Wealth Management LLC now owns 3,410 shares of the company’s stock valued at $244,000 after purchasing an additional 1,437 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in Soleno Therapeutics in the 1st quarter valued at about $232,000. Finally, Lisanti Capital Growth LLC acquired a new position in Soleno Therapeutics in the 1st quarter valued at about $1,812,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

About Soleno Therapeutics

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.