HC Wainwright Lowers Soleno Therapeutics (NASDAQ:SLNO) Price Target to $100.00

Soleno Therapeutics (NASDAQ:SLNO) had its price target cut by analysts at HC Wainwright from $120.00 to $100.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 165.11% from the company’s current price.

Several other brokerages also recently commented on SLNO. Wolfe Research set a $60.00 price objective on shares of Soleno Therapeutics in a research report on Monday, January 12th. Zacks Research cut shares of Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Thursday, January 22nd. TD Cowen lowered their price objective on Soleno Therapeutics from $120.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, Wall Street Zen downgraded Soleno Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Soleno Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $106.85.

Soleno Therapeutics Stock Down 3.4%

SLNO stock opened at $37.72 on Wednesday. The business has a 50 day moving average of $42.20 and a 200 day moving average of $52.62. The firm has a market cap of $1.95 billion, a PE ratio of 164.01 and a beta of -3.16. Soleno Therapeutics has a twelve month low of $32.63 and a twelve month high of $90.32. The company has a quick ratio of 5.55, a current ratio of 5.80 and a debt-to-equity ratio of 0.11.

Soleno Therapeutics (NASDAQ:SLNO) last released its earnings results on Wednesday, February 25th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16. The company had revenue of $91.73 million during the quarter, compared to analysts’ expectations of $88.55 million. On average, research analysts forecast that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Institutional Trading of Soleno Therapeutics

A number of hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Soleno Therapeutics by 1.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,360 shares of the company’s stock worth $1,242,000 after purchasing an additional 189 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Soleno Therapeutics by 50.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 633,110 shares of the company’s stock worth $45,236,000 after purchasing an additional 213,667 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Soleno Therapeutics by 48.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 40,715 shares of the company’s stock worth $2,909,000 after buying an additional 13,211 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Soleno Therapeutics by 287.8% in the second quarter. Nisa Investment Advisors LLC now owns 539 shares of the company’s stock worth $45,000 after buying an additional 400 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Soleno Therapeutics by 32.9% during the second quarter. Envestnet Asset Management Inc. now owns 5,866 shares of the company’s stock valued at $491,000 after buying an additional 1,453 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.

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.