Cantor Fitzgerald Reiterates Neutral Rating for Soleno Therapeutics (NASDAQ:SLNO)

Soleno Therapeutics (NASDAQ:SLNO)‘s stock had its “neutral” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research note issued to investors on Tuesday,Benzinga reports.

A number of other equities research analysts have also recently issued reports on the stock. Zacks Research cut shares of Soleno Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Wall Street Zen downgraded Soleno Therapeutics from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. Oppenheimer decreased their price target on Soleno Therapeutics from $110.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, March 18th. TD Cowen downgraded Soleno Therapeutics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $85.00 to $53.00 in a research report on Tuesday, April 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Soleno Therapeutics in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Soleno Therapeutics has an average rating of “Hold” and a consensus target price of $76.67.

Soleno Therapeutics Price Performance

Shares of NASDAQ SLNO opened at $53.01 on Tuesday. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 29.95 and a beta of -2.22. Soleno Therapeutics has a twelve month low of $29.43 and a twelve month high of $90.32. 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 business has a 50 day simple moving average of $45.26 and a 200-day simple moving average of $45.70.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate 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. Soleno Therapeutics had a return on equity of 22.85% and a net margin of 33.70%. As a group, equities research analysts expect that Soleno Therapeutics will post 3.67 earnings per share for the current year.

Institutional Investors Weigh In On Soleno Therapeutics

Several large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 valued at $1,242,000 after acquiring an additional 189 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Soleno Therapeutics by 50.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 633,110 shares of the company’s stock valued at $45,236,000 after buying an additional 213,667 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Soleno Therapeutics by 48.0% during 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 valued at $2,909,000 after buying an additional 13,211 shares during the period. Creative Planning purchased a new position in shares of Soleno Therapeutics in the second quarter valued at about $338,000. Finally, Prudential Financial Inc. bought a new position in Soleno Therapeutics in the second quarter worth $413,000. 97.42% of the stock is owned by hedge funds and other 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.