Soleno Therapeutics (NASDAQ:SLNO) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Soleno Therapeutics (NASDAQ:SLNO) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

A number of other equities research analysts also recently issued reports on SLNO. The Goldman Sachs Group set a $125.00 price objective on shares of Soleno Therapeutics and gave the company a “buy” rating in a research report on Tuesday, October 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Soleno Therapeutics in a research note on Wednesday, October 8th. Wolfe Research began coverage on shares of Soleno Therapeutics in a research note on Tuesday, November 18th. They set an “outperform” rating and a $75.00 price target on the stock. Wall Street Zen upgraded Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $111.46.

Soleno Therapeutics Price Performance

Shares of SLNO opened at $46.24 on Monday. Soleno Therapeutics has a fifty-two week low of $41.50 and a fifty-two week high of $90.32. The firm’s 50-day simple moving average is $50.20 and its two-hundred day simple moving average is $64.75. The stock has a market cap of $2.48 billion, a PE ratio of -24.87 and a beta of -3.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.88 and a current ratio of 16.08.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.39. The company had revenue of $66.02 million during the quarter, compared to analysts’ expectations of $47.46 million. Analysts anticipate that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Institutional Trading of Soleno Therapeutics

Several institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in shares of Soleno Therapeutics during the 2nd quarter valued at approximately $25,000. Danske Bank A S acquired a new stake in shares of Soleno Therapeutics in the third quarter valued at about $27,000. Nisa Investment Advisors LLC boosted its holdings in shares of Soleno Therapeutics by 287.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 539 shares of the company’s stock worth $45,000 after purchasing an additional 400 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Soleno Therapeutics in the third quarter valued at approximately $37,000. Finally, Quarry LP acquired a new stake in Soleno Therapeutics during the third quarter worth $47,000. 97.42% of the stock is owned by institutional investors and hedge funds.

About Soleno Therapeutics

Soleno Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development and commercialization of therapies for rare and orphan diseases. Headquartered in Redwood City, California, Soleno leverages a precision medicine approach to identify and advance small‐molecule treatments that address underlying genetic and metabolic dysfunctions. The company’s scientific strategy centers on repurposing and reformulating existing compounds to maximize therapeutic benefit in underserved patient populations.

The company’s lead candidate, diazoxide choline controlled release (DCCR), is being investigated for the treatment of Prader-Willi syndrome (PWS), a complex neurodevelopmental disorder characterized by insatiable appetite, hormonal imbalances and behavioral challenges.