Zacks Research Downgrades Soleno Therapeutics (NASDAQ:SLNO) to Strong Sell

Soleno Therapeutics (NASDAQ:SLNO) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also recently commented on SLNO. Wall Street Zen cut shares of Soleno Therapeutics from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Wolfe Research cut shares of Soleno Therapeutics from an “outperform” rating to a “hold” rating in a report on Tuesday, April 7th. Robert W. Baird lowered shares of Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Soleno Therapeutics in a research note on Thursday, January 22nd. Finally, Lifesci Capital lowered shares of Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Soleno Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $76.67.

Soleno Therapeutics Trading Down 0.0%

NASDAQ:SLNO opened at $52.93 on Monday. The company has a current ratio of 5.62, a quick ratio of 5.32 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 29.90 and a beta of -2.22. The firm has a fifty day simple moving average of $44.09 and a two-hundred day simple moving average of $46.06. Soleno Therapeutics has a 12 month low of $29.43 and a 12 month high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly 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 business had revenue of $91.73 million during the quarter, compared to analysts’ expectations of $88.55 million. Soleno Therapeutics had a net margin of 33.70% and a return on equity of 22.85%. Analysts expect that Soleno Therapeutics will post 3.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in shares of Soleno Therapeutics by 18.5% during the fourth quarter. Janus Henderson Group PLC now owns 7,178,354 shares of the company’s stock valued at $332,302,000 after purchasing an additional 1,122,015 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Soleno Therapeutics by 43.7% during the fourth quarter. Wellington Management Group LLP now owns 3,322,799 shares of the company’s stock valued at $153,846,000 after purchasing an additional 1,010,704 shares in the last quarter. Vanguard Group Inc. increased its holdings in Soleno Therapeutics by 9.0% during the fourth quarter. Vanguard Group Inc. now owns 3,060,361 shares of the company’s stock worth $141,695,000 after buying an additional 253,212 shares during the last quarter. Avoro Capital Advisors LLC increased its holdings in Soleno Therapeutics by 12.5% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,900,000 shares of the company’s stock worth $134,270,000 after buying an additional 322,223 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Soleno Therapeutics by 21.9% in the fourth quarter. State Street Corp now owns 2,649,626 shares of the company’s stock worth $122,678,000 after purchasing an additional 476,590 shares in the last quarter. 97.42% of the stock is owned by institutional investors.

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.