Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have received an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $114.50.

Several brokerages recently issued reports on SLNO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Wednesday, October 8th. Oppenheimer upped their price objective on Soleno Therapeutics from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 10th. Cowen restated a “buy” rating on shares of Soleno Therapeutics in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th.

Hedge Funds Weigh In On Soleno Therapeutics

A number of large investors have recently added to or reduced their stakes in SLNO. Bank of New York Mellon Corp boosted its position in Soleno Therapeutics by 345.0% during the first quarter. Bank of New York Mellon Corp now owns 302,664 shares of the company’s stock valued at $21,625,000 after buying an additional 234,649 shares during the period. Arizona State Retirement System lifted its stake in shares of Soleno Therapeutics by 9.2% in the 1st quarter. Arizona State Retirement System now owns 7,380 shares of the company’s stock valued at $527,000 after acquiring an additional 620 shares during the last quarter. Mutual of America Capital Management LLC purchased a new stake in Soleno Therapeutics during the 1st quarter valued at about $5,186,000. Victory Capital Management Inc. bought a new position in Soleno Therapeutics during the 1st quarter worth approximately $288,000. Finally, Atle Fund Management AB increased its stake in Soleno Therapeutics by 19.9% in the 1st quarter. Atle Fund Management AB now owns 37,098 shares of the company’s stock worth $2,651,000 after purchasing an additional 6,158 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Trading Up 4.4%

Shares of SLNO opened at $49.42 on Tuesday. The firm’s 50 day simple moving average is $60.27 and its 200 day simple moving average is $72.02. The company has a market capitalization of $2.65 billion, a P/E ratio of -11.94 and a beta of -2.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 15.13 and a quick ratio of 15.01. Soleno Therapeutics has a 1-year low of $41.50 and a 1-year high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly 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 company had revenue of $66.02 million during the quarter, compared to analysts’ expectations of $47.46 million. Sell-side analysts forecast that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

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.