Soleno Therapeutics (NASDAQ:SLNO – Get Free Report) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.
A number of other brokerages have also recently weighed in on SLNO. Piper Sandler cut Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. TD Cowen cut Soleno Therapeutics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $85.00 to $53.00 in a research note on Tuesday, April 7th. HC Wainwright cut Soleno Therapeutics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $100.00 to $53.00 in a research note on Wednesday, April 8th. Wall Street Zen cut Soleno Therapeutics from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Finally, Wolfe Research cut Soleno Therapeutics from an “outperform” rating to a “hold” rating in a research note on Tuesday, April 7th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.67.
Soleno Therapeutics Price Performance
Soleno Therapeutics (NASDAQ:SLNO – Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.16. The company had revenue of $91.73 million during the quarter, compared to analysts’ expectations of $88.55 million. Soleno Therapeutics had a return on equity of 22.85% and a net margin of 33.70%. As a group, research analysts anticipate that Soleno Therapeutics will post 3.67 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in SLNO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 worth $1,242,000 after acquiring an additional 189 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Soleno Therapeutics by 50.9% during the 1st 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of 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 worth $2,909,000 after acquiring an additional 13,211 shares in the last quarter. Creative Planning acquired a new position in shares of Soleno Therapeutics during the 2nd quarter worth about $338,000. Finally, Prudential Financial Inc. acquired a new position in shares of Soleno Therapeutics during the 2nd quarter worth about $413,000. 97.42% of the stock is owned by institutional investors and hedge funds.
About Soleno Therapeutics
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.
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