Soleno Therapeutics (NASDAQ:SLNO) Issues Earnings Results, Beats Expectations By $0.21 EPS

Soleno Therapeutics (NASDAQ:SLNO) posted its earnings results on Wednesday. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.21, FiscalAI reports. The business had revenue of $91.73 million for the quarter, compared to analysts’ expectations of $88.55 million.

Soleno Therapeutics Trading Up 4.7%

Shares of NASDAQ:SLNO traded up $1.85 during midday trading on Wednesday, reaching $41.01. The company’s stock had a trading volume of 1,597,541 shares, compared to its average volume of 1,555,294. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -22.29 and a beta of -3.16. The business has a 50 day moving average price of $43.17 and a 200 day moving average price of $54.06. Soleno Therapeutics has a 1 year low of $36.67 and a 1 year high of $90.32. The company has a quick ratio of 15.88, a current ratio of 16.08 and a debt-to-equity ratio of 0.10.

Analyst Ratings Changes

SLNO has been the subject of a number of recent research reports. Robert W. Baird set a $107.00 price objective on shares of Soleno Therapeutics in a research note on Tuesday, January 13th. Wolfe Research set a $60.00 price target on Soleno Therapeutics in a research report on Monday, January 12th. Wall Street Zen upgraded Soleno Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Wells Fargo & Company reiterated an “overweight” rating and set a $114.00 price objective (up from $106.00) on shares of Soleno Therapeutics in a research report on Tuesday, January 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $120.00 target price (up from $110.00) on shares of Soleno Therapeutics in a research note on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Soleno Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $110.62.

Institutional Investors Weigh In On Soleno Therapeutics

A number of institutional investors have recently bought and sold shares of SLNO. Raymond James Financial Inc. acquired a new position in Soleno Therapeutics in the second quarter valued at $25,000. Danske Bank A S acquired a new position in shares of Soleno Therapeutics during the third quarter worth about $27,000. Global Retirement Partners LLC lifted its stake in shares of Soleno Therapeutics by 519.0% during the fourth quarter. Global Retirement Partners LLC now owns 619 shares of the company’s stock worth $29,000 after purchasing an additional 519 shares in the last quarter. Quarry LP purchased a new stake in shares of Soleno Therapeutics in the third quarter worth about $47,000. Finally, Osaic Holdings Inc. grew its stake in shares of Soleno Therapeutics by 97.7% in the second quarter. Osaic Holdings Inc. now owns 856 shares of the company’s stock valued at $72,000 after buying an additional 423 shares in the last quarter. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

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.