Soleno Therapeutics (NASDAQ:SLNO) Posts Earnings Results, Beats Estimates By $0.39 EPS

Soleno Therapeutics (NASDAQ:SLNO) released its earnings results on Tuesday. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.39, Zacks reports.

Soleno Therapeutics Price Performance

Shares of NASDAQ:SLNO traded down $1.80 on Tuesday, hitting $63.85. The stock had a trading volume of 3,146,434 shares, compared to its average volume of 1,299,755. The firm’s 50 day moving average price is $63.73 and its 200-day moving average price is $73.50. 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 twelve month low of $41.50 and a twelve month high of $90.32. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of -15.42 and a beta of -2.75.

Hedge Funds Weigh In On Soleno Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Soleno Therapeutics during the second quarter worth approximately $25,000. Osaic Holdings Inc. grew its position in Soleno Therapeutics by 97.7% during the 2nd quarter. Osaic Holdings Inc. now owns 856 shares of the company’s stock worth $72,000 after acquiring an additional 423 shares during the last quarter. Headlands Technologies LLC bought a new stake in Soleno Therapeutics during the 2nd quarter worth approximately $204,000. Orion Porfolio Solutions LLC acquired a new stake in Soleno Therapeutics during the 2nd quarter valued at $215,000. Finally, Tower Research Capital LLC TRC raised its position in Soleno Therapeutics by 137.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,116 shares of the company’s stock valued at $261,000 after purchasing an additional 1,806 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLNO has been the subject of several recent research reports. Cowen reaffirmed a “buy” rating on shares of Soleno Therapeutics in a report on Thursday, August 7th. Oppenheimer upped their target price on Soleno Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Soleno Therapeutics in a research note on Wednesday, October 8th. HC Wainwright restated a “buy” rating and issued a $110.00 price objective (up previously from $100.00) on shares of Soleno Therapeutics in a research note on Monday, August 18th. Finally, Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.92.

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.