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

Soleno Therapeutics (NASDAQ:SLNO) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other analysts have also commented on the stock. Oppenheimer lifted their price target on shares of Soleno Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Wells Fargo & Company reissued an “overweight” rating and set a $106.00 target price (down previously from $123.00) on shares of Soleno Therapeutics in a research note on Wednesday. Guggenheim restated a “buy” rating and issued a $106.00 target price on shares of Soleno Therapeutics in a research report on Wednesday, August 27th. The Goldman Sachs Group set a $125.00 price target on Soleno Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 7th. Finally, Robert W. Baird set a $121.00 price objective on Soleno Therapeutics and gave the stock an “outperform” rating in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $114.50.

Soleno Therapeutics Trading Up 9.6%

Shares of SLNO stock opened at $47.70 on Friday. The company’s 50-day moving average price is $62.30 and its 200-day moving average price is $72.93. The company has a current ratio of 15.13, a quick ratio of 15.01 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -11.52 and a beta of -2.92. Soleno Therapeutics has a twelve month low of $41.50 and a twelve month high of $90.32.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. CenterBook Partners LP grew its stake in shares of Soleno Therapeutics by 156.2% in the third quarter. CenterBook Partners LP now owns 62,794 shares of the company’s stock valued at $4,245,000 after buying an additional 38,282 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in Soleno Therapeutics by 320.3% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 122,739 shares of the company’s stock worth $8,297,000 after acquiring an additional 93,536 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Soleno Therapeutics by 12.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,807,149 shares of the company’s stock valued at $189,763,000 after acquiring an additional 319,317 shares during the period. JPMorgan Chase & Co. grew its position in Soleno Therapeutics by 52.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 407,444 shares of the company’s stock valued at $27,543,000 after acquiring an additional 140,779 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in Soleno Therapeutics in the 3rd quarter valued at about $2,060,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

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.