TD Cowen Cuts Soleno Therapeutics (NASDAQ:SLNO) Price Target to $85.00

Soleno Therapeutics (NASDAQ:SLNO) had its target price reduced by equities researchers at TD Cowen from $120.00 to $85.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target would suggest a potential upside of 131.04% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Wall Street Zen raised shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Zacks Research cut shares of Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Wolfe Research set a $60.00 price objective on Soleno Therapeutics in a report on Monday, January 12th. HC Wainwright reissued a “buy” rating and issued a $120.00 target price (up from $110.00) on shares of Soleno Therapeutics in a research note on Tuesday, January 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Soleno Therapeutics in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Soleno Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $108.69.

Soleno Therapeutics Price Performance

SLNO traded down $4.22 during trading on Thursday, hitting $36.79. The company’s stock had a trading volume of 2,534,932 shares, compared to its average volume of 1,578,542. The company has a quick ratio of 15.88, a current ratio of 16.08 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -20.03 and a beta of -3.16. The firm’s 50 day moving average price is $43.01 and its two-hundred day moving average price is $53.97. Soleno Therapeutics has a 12 month low of $32.63 and a 12 month high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.16. The business had revenue of $91.73 million during the quarter, compared to analyst estimates of $88.55 million. Sell-side analysts forecast that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Soleno Therapeutics

Several institutional investors have recently modified their holdings of SLNO. Raymond James Financial Inc. acquired a new stake in shares of Soleno Therapeutics in the 2nd quarter valued at approximately $25,000. Danske Bank A S bought a new stake in shares of Soleno Therapeutics in the third quarter worth about $27,000. Global Retirement Partners LLC raised its position in shares of Soleno Therapeutics by 519.0% during the fourth quarter. Global Retirement Partners LLC now owns 619 shares of the company’s stock worth $29,000 after purchasing an additional 519 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Soleno Therapeutics during the 3rd quarter valued at about $37,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Soleno Therapeutics by 287.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 539 shares of the company’s stock valued at $45,000 after purchasing an additional 400 shares during the period. 97.42% of the stock is currently owned by institutional investors and hedge funds.

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.