Soleno Therapeutics (NASDAQ:SLNO) Posts Earnings Results, Beats Expectations By $0.39 EPS

Soleno Therapeutics (NASDAQ:SLNO) released its earnings results on Tuesday. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.39, Zacks reports. The business had revenue of $66.02 million for the quarter, compared to the consensus estimate of $47.46 million.

Soleno Therapeutics Stock Performance

Shares of NASDAQ SLNO traded down $3.64 during trading on Thursday, hitting $43.23. The company had a trading volume of 3,911,347 shares, compared to its average volume of 1,354,220. The stock has a 50 day simple moving average of $63.20 and a 200 day simple moving average of $73.27. 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 12 month low of $41.50 and a 12 month high of $90.32. The firm has a market capitalization of $2.30 billion, a P/E ratio of -10.42 and a beta of -2.92.

Institutional Trading of Soleno Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLNO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Soleno Therapeutics by 1.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,360 shares of the company’s stock valued at $1,242,000 after purchasing an additional 189 shares during the period. Goldman Sachs Group Inc. raised its stake in Soleno Therapeutics by 50.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 633,110 shares of the company’s stock valued at $45,236,000 after purchasing an additional 213,667 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Soleno Therapeutics by 48.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 40,715 shares of the company’s stock valued at $2,909,000 after purchasing an additional 13,211 shares during the period. Creative Planning bought a new stake in Soleno Therapeutics during the 2nd quarter valued at approximately $338,000. Finally, Prudential Financial Inc. bought a new stake in Soleno Therapeutics during the 2nd quarter valued at approximately $413,000. Institutional investors own 97.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SLNO shares. Cowen reaffirmed a “buy” rating on shares of Soleno Therapeutics in a report on Thursday, August 7th. Wells Fargo & Company reiterated an “overweight” rating and issued a $106.00 price objective (down previously from $123.00) on shares of Soleno Therapeutics in a research report on Wednesday. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a report on Wednesday, September 10th. Wall Street Zen upgraded Soleno Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Robert W. Baird set a $121.00 price target on Soleno Therapeutics and gave the stock an “outperform” rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.50.

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.