Brokerages Set Soleno Therapeutics, Inc. (NASDAQ:SLNO) PT at $110.62

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have been assigned an average rating of “Moderate Buy” from the fifteen analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $110.6154.

A number of research firms have weighed in on SLNO. Wolfe Research set a $60.00 target price on shares of Soleno Therapeutics in a report on Monday, January 12th. Robert W. Baird set a $107.00 price objective on shares of Soleno Therapeutics in a research note on Tuesday, January 13th. Wall Street Zen upgraded Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. HC Wainwright reaffirmed a “buy” rating and set a $120.00 target price (up from $110.00) on shares of Soleno Therapeutics in a report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Thursday, January 22nd.

Soleno Therapeutics Stock Performance

Shares of SLNO stock opened at $39.65 on Thursday. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -21.55 and a beta of -3.16. The company has a current ratio of 16.08, a quick ratio of 15.88 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average price is $43.38 and its 200-day moving average price is $54.36. Soleno Therapeutics has a 12 month low of $36.67 and a 12 month high of $90.32.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust raised its stake in Soleno Therapeutics by 9.1% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 405,651 shares of the company’s stock worth $33,985,000 after buying an additional 33,954 shares during the period. CenterBook Partners LP increased its holdings in shares of Soleno Therapeutics by 156.2% during the third quarter. CenterBook Partners LP now owns 62,794 shares of the company’s stock valued at $4,245,000 after acquiring an additional 38,282 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Soleno Therapeutics by 255.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 280,984 shares of the company’s stock worth $18,995,000 after purchasing an additional 201,983 shares during the period. Castleark Management LLC acquired a new position in shares of Soleno Therapeutics during the second quarter worth approximately $2,919,000. Finally, TimesSquare Capital Management LLC lifted its holdings in shares of Soleno Therapeutics by 52.6% in the 3rd quarter. TimesSquare Capital Management LLC now owns 377,566 shares of the company’s stock worth $25,523,000 after purchasing an additional 130,197 shares in the last quarter. Institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Company Profile

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.