Soleno Therapeutics (NASDAQ:SLNO) Stock Price Up 8.9% – Should You Buy?

Soleno Therapeutics, Inc. (NASDAQ:SLNO)’s stock price shot up 8.9% during mid-day trading on Tuesday . The company traded as high as $50.20 and last traded at $49.98. 1,608,767 shares were traded during trading, an increase of 16% from the average session volume of 1,392,336 shares. The stock had previously closed at $45.91.

Wall Street Analyst Weigh In

Several research firms recently commented on SLNO. The Goldman Sachs Group set a $125.00 price objective on Soleno Therapeutics and gave the stock a “buy” rating in a report on Tuesday, October 7th. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 10th. Wall Street Zen upgraded shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Guggenheim reaffirmed a “buy” rating and issued a $106.00 target price on shares of Soleno Therapeutics in a research report on Wednesday, August 27th. Finally, Cowen restated a “buy” rating on shares of Soleno Therapeutics in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $111.46.

Soleno Therapeutics Trading Down 0.4%

The company has a market capitalization of $2.66 billion, a P/E ratio of -11.97 and a beta of -2.92. The stock has a 50 day moving average of $58.53 and a 200-day moving average of $70.45. The company has a current ratio of 15.13, a quick ratio of 15.01 and a debt-to-equity ratio of 0.21.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.39. The firm had revenue of $66.02 million for the quarter, compared to analysts’ expectations of $47.46 million. On average, research analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Institutional Trading of Soleno Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in Soleno Therapeutics in the 2nd quarter worth approximately $25,000. Danske Bank A S purchased a new position in Soleno Therapeutics during the third quarter valued at $27,000. Aster Capital Management DIFC Ltd purchased a new stake in Soleno Therapeutics in the 3rd quarter worth $37,000. Nisa Investment Advisors LLC boosted 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 during the last quarter. Finally, Quarry LP purchased a new position in shares of Soleno Therapeutics during the third quarter valued at about $47,000. Institutional investors own 97.42% of the company’s stock.

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.