Soleno Therapeutics (NASDAQ:SLNO) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Soleno Therapeutics (NASDAQ:SLNO) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Several other equities research analysts have also weighed in on the company. Oppenheimer raised their price objective on Soleno Therapeutics from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Cowen reissued a “buy” rating on shares of Soleno Therapeutics in a research note on Thursday, August 7th. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 10th. HC Wainwright reiterated a “buy” rating and issued a $110.00 target price (up from $100.00) on shares of Soleno Therapeutics in a report on Monday, August 18th. Finally, The Goldman Sachs Group set a $125.00 price target on shares of Soleno Therapeutics and gave the company a “buy” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $114.50.

Soleno Therapeutics Price Performance

NASDAQ SLNO traded up $4.16 on Friday, reaching $47.70. The company’s stock had a trading volume of 3,944,652 shares, compared to its average volume of 1,374,548. Soleno Therapeutics has a twelve month low of $41.50 and a twelve month high of $90.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.01 and a current ratio of 15.13. The firm’s 50 day moving average is $62.30 and its two-hundred day moving average is $72.93. The stock has a market cap of $2.56 billion, a PE ratio of -11.52 and a beta of -2.92.

Soleno Therapeutics (NASDAQ:SLNO) last released its earnings results on Tuesday, November 4th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.39. The business had revenue of $66.02 million during the quarter, compared to the consensus estimate of $47.46 million. As a group, sell-side analysts predict that Soleno Therapeutics will post -3.72 EPS for the current year.

Hedge Funds Weigh In On Soleno Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Soleno Therapeutics during the second quarter valued at $25,000. Nisa Investment Advisors LLC raised its holdings in shares of Soleno Therapeutics by 287.8% during 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 in the last quarter. Osaic Holdings Inc. raised its holdings in Soleno Therapeutics by 97.7% during the second quarter. Osaic Holdings Inc. now owns 856 shares of the company’s stock valued at $72,000 after buying an additional 423 shares in the last quarter. KBC Group NV acquired a new stake in shares of Soleno Therapeutics in the second quarter worth about $77,000. Finally, AlphaQuest LLC increased its holdings in shares of Soleno Therapeutics by 37.5% during the 1st quarter. AlphaQuest LLC now owns 983 shares of the company’s stock valued at $70,000 after acquiring an additional 268 shares during the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.

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.