Zacks Research Downgrades Soleno Therapeutics (NASDAQ:SLNO) to Strong Sell

Soleno Therapeutics (NASDAQ:SLNO) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on SLNO. Wolfe Research downgraded Soleno Therapeutics from an “outperform” rating to a “hold” rating in a research report on Tuesday, April 7th. Robert W. Baird downgraded Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Wells Fargo & Company set a $53.00 price objective on Soleno Therapeutics and gave the stock an “equal weight” rating in a research report on Friday, April 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Thursday, January 22nd. Finally, TD Cowen downgraded Soleno Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $85.00 to $53.00 in a research report on Tuesday, April 7th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $76.67.

Soleno Therapeutics Stock Performance

NASDAQ SLNO opened at $52.93 on Monday. The company has a market cap of $2.76 billion, a PE ratio of 29.90 and a beta of -2.22. The stock’s 50 day simple moving average is $44.09 and its 200-day simple moving average is $46.06. Soleno Therapeutics has a 1-year low of $29.43 and a 1-year high of $90.32. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.62 and a quick ratio of 5.32.

Soleno Therapeutics (NASDAQ:SLNO) last released its earnings results on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.16. The business had revenue of $91.73 million for the quarter, compared to the consensus estimate 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 anticipate that Soleno Therapeutics will post 3.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Soleno Therapeutics

A number of institutional investors have recently added to or reduced their stakes in SLNO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Soleno Therapeutics by 1.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,360 shares of the company’s stock worth $1,242,000 after acquiring an additional 189 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Soleno Therapeutics by 50.9% during the first quarter. Goldman Sachs Group Inc. now owns 633,110 shares of the company’s stock worth $45,236,000 after acquiring an additional 213,667 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 worth $2,909,000 after acquiring an additional 13,211 shares during the last quarter. Creative Planning acquired a new stake in Soleno Therapeutics during the second quarter worth $338,000. Finally, Prudential Financial Inc. acquired a new stake in Soleno Therapeutics during the second quarter worth $413,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Company Profile

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.