Soleno Therapeutics (NASDAQ:SLNO) Shares Gap Up – Time to Buy?

Soleno Therapeutics, Inc. (NASDAQ:SLNO)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $50.00, but opened at $53.33. Soleno Therapeutics shares last traded at $49.7560, with a volume of 859,773 shares traded.

Wall Street Analyst Weigh In

SLNO has been the topic of several recent research reports. Wolfe Research started coverage on shares of Soleno Therapeutics in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $110.00 target price (up previously from $100.00) on shares of Soleno Therapeutics in a research report on Monday, August 18th. Wall Street Zen raised Soleno Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. The Goldman Sachs Group set a $125.00 price objective on Soleno Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $106.00 target price (down previously from $123.00) on shares of Soleno Therapeutics in a research note on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Soleno Therapeutics has a consensus rating of “Buy” and a consensus price target of $111.46.

Soleno Therapeutics Stock Performance

The firm has a market cap of $2.66 billion, a P/E ratio of -26.90 and a beta of -3.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.88 and a current ratio of 16.08. The stock’s 50-day moving average is $56.34 and its 200 day moving average is $68.73.

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

Institutional Investors Weigh In On Soleno Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Soleno Therapeutics by 1.1% in 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 acquiring an additional 189 shares in the last quarter. AlphaQuest LLC boosted its position in Soleno Therapeutics by 37.5% during the first quarter. AlphaQuest LLC now owns 983 shares of the company’s stock valued at $70,000 after purchasing an additional 268 shares during the last quarter. Raymond James Financial Inc. bought a new position in Soleno Therapeutics in the second quarter valued at approximately $25,000. Principal Financial Group Inc. increased its position in shares of Soleno Therapeutics by 11.9% during the 3rd quarter. Principal Financial Group Inc. now owns 3,197 shares of the company’s stock worth $216,000 after purchasing an additional 340 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Soleno Therapeutics by 2.4% during the 3rd quarter. New York State Common Retirement Fund now owns 15,600 shares of the company’s stock worth $1,055,000 after purchasing an additional 360 shares in the last quarter. 97.42% of the stock is owned by institutional investors.

Soleno Therapeutics Company Profile

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.