Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $115.92 Average PT from Analysts

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $115.9167.

Several brokerages recently weighed in on SLNO. The Goldman Sachs Group set a $125.00 price objective on shares of Soleno Therapeutics and gave the company a “buy” rating in a research report on Tuesday, October 7th. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 10th. Cowen reaffirmed a “buy” rating on shares of Soleno Therapeutics in a research report on Thursday, August 7th. Oppenheimer raised their price objective on shares of Soleno Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Finally, Guggenheim reaffirmed a “buy” rating and set a $106.00 price objective on shares of Soleno Therapeutics in a research report on Wednesday, August 27th.

Soleno Therapeutics Price Performance

Shares of SLNO opened at $67.13 on Friday. The firm has a market cap of $3.57 billion, a PE ratio of -16.21 and a beta of -2.75. The firm’s 50 day moving average price is $64.45 and its 200 day moving average price is $73.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.01 and a current ratio of 15.13. Soleno Therapeutics has a twelve month low of $41.50 and a twelve month high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.44. The business had revenue of $32.66 million for the quarter, compared to the consensus estimate of $3.91 million. As a group, research analysts expect that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Soleno Therapeutics

A number of institutional investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. grew its stake in shares of Soleno Therapeutics by 58.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 4,392,696 shares of the company’s stock worth $313,858,000 after acquiring an additional 1,616,720 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Soleno Therapeutics by 47.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,400,418 shares of the company’s stock valued at $171,510,000 after buying an additional 769,700 shares in the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in shares of Soleno Therapeutics in the 2nd quarter valued at $42,089,000. Sofinnova Investments Inc. raised its stake in shares of Soleno Therapeutics by 1,026.2% in the 2nd quarter. Sofinnova Investments Inc. now owns 415,219 shares of the company’s stock valued at $34,787,000 after buying an additional 460,048 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Soleno Therapeutics by 3,789.4% during the 1st quarter. Invesco Ltd. now owns 467,193 shares of the company’s stock worth $33,381,000 after purchasing an additional 455,181 shares in the last quarter. Institutional investors own 97.42% of the company’s stock.

About Soleno Therapeutics

Soleno Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is Diazoxide Choline Extended-Release tablets, a once-daily oral tablet, which is in Phase III clinical trials for the treatment of Prader-Willi Syndrome.