Soleno Therapeutics (NASDAQ:SLNO) Rating Lowered to Hold at Zacks Research

Soleno Therapeutics (NASDAQ:SLNO) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Wolfe Research set a $60.00 target price on Soleno Therapeutics in a research note on Monday, January 12th. Robert W. Baird set a $107.00 price objective on shares of Soleno Therapeutics in a research report on Tuesday, January 13th. Wells Fargo & Company restated an “overweight” rating and issued a $114.00 target price (up previously from $106.00) on shares of Soleno Therapeutics in a research report on Tuesday, January 20th. The Goldman Sachs Group set a $125.00 price target on shares of Soleno Therapeutics and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Wall Street Zen raised Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Soleno Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $110.62.

Soleno Therapeutics Stock Performance

NASDAQ SLNO opened at $42.12 on Tuesday. The firm’s 50 day simple moving average is $46.25 and its 200 day simple moving average is $58.71. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -22.89 and a beta of -3.16. The company has a current ratio of 16.08, a quick ratio of 15.88 and a debt-to-equity ratio of 0.10. Soleno Therapeutics has a 1 year low of $37.95 and a 1 year high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO) last released its 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 business had revenue of $66.02 million for the quarter, compared to the consensus estimate of $47.46 million. As a group, research analysts expect that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Soleno Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in shares of Soleno Therapeutics by 272.3% during the 3rd quarter. Wellington Management Group LLP now owns 2,312,095 shares of the company’s stock valued at $156,298,000 after acquiring an additional 1,691,057 shares during the period. Braidwell LP bought a new stake in Soleno Therapeutics in the third quarter valued at $86,662,000. Invesco Ltd. raised its holdings in shares of Soleno Therapeutics by 132.3% during the third quarter. Invesco Ltd. now owns 1,500,525 shares of the company’s stock valued at $101,435,000 after purchasing an additional 854,551 shares during the period. Commodore Capital LP raised its holdings in shares of Soleno Therapeutics by 121.3% during the third quarter. Commodore Capital LP now owns 1,350,000 shares of the company’s stock valued at $91,260,000 after purchasing an additional 740,000 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Soleno Therapeutics by 348.4% during the 3rd quarter. Franklin Resources Inc. now owns 835,751 shares of the company’s stock worth $56,497,000 after purchasing an additional 649,349 shares in the last quarter. 97.42% of the stock is currently owned by institutional investors.

Soleno Therapeutics Company Profile

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.