Soleno Therapeutics (NASDAQ:SLNO) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Soleno Therapeutics (NASDAQ:SLNO) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Soleno Therapeutics Inc. is a healthcare company. It develops and commercializes diagnostics, devices and therapeutics addressing unmet medical needs. The Company offers products consists of CoSense end-tidal carbon monoxide Monitor, NeoPIP Infant Resuscitator and Accessories and Serenz Nasal Relief. Soleno Therapeutics Inc., formerly known as Capnia Inc., is based in Vancouver, Canada. “

Separately, Guggenheim began coverage on Soleno Therapeutics in a report on Tuesday, September 29th. They issued a buy rating and a $8.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $7.65.

Shares of Soleno Therapeutics stock opened at $1.96 on Wednesday. Soleno Therapeutics has a 1 year low of $1.18 and a 1 year high of $4.39. The firm has a market cap of $156.00 million, a PE ratio of -3.16 and a beta of 0.56. The stock has a fifty day moving average price of $2.01 and a 200-day moving average price of $2.39.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Monday, August 10th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.05. As a group, equities analysts forecast that Soleno Therapeutics will post -0.32 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the stock. Greylin Investment Mangement Inc. purchased a new stake in shares of Soleno Therapeutics during the 3rd quarter valued at approximately $337,000. Two Sigma Advisers LP purchased a new stake in shares of Soleno Therapeutics during the 2nd quarter valued at approximately $30,000. Nuveen Asset Management LLC bought a new stake in Soleno Therapeutics during the 2nd quarter worth approximately $223,000. Charles Schwab Investment Management Inc. bought a new stake in Soleno Therapeutics during the 2nd quarter worth approximately $160,000. Finally, Jane Street Group LLC bought a new stake in Soleno Therapeutics during the 2nd quarter worth approximately $125,000. Institutional investors own 54.45% of the company’s stock.

Soleno Therapeutics Company Profile

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 Controlled Release (DCCR), a once-daily oral tablet for the treatment of Prader-Willi Syndrome (PWS), is being evaluated in a Phase III clinical development program.

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