Soleno Therapeutics (NASDAQ:SLNO) Price Target Cut to $110.00 by Analysts at Wells Fargo & Company

Soleno Therapeutics (NASDAQ:SLNO) had its price target lowered by equities research analysts at Wells Fargo & Company from $114.00 to $110.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 186.76% from the company’s previous close.

Several other equities analysts also recently issued reports on SLNO. Robert W. Baird set a $107.00 price objective on shares of Soleno Therapeutics in a report on Tuesday, January 13th. HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective (up from $110.00) on shares of Soleno Therapeutics in a report on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Soleno Therapeutics in a research note on Thursday, January 22nd. Wall Street Zen upgraded Soleno Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Zacks Research lowered Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.38.

Soleno Therapeutics Price Performance

NASDAQ SLNO traded up $0.27 during trading hours on Friday, reaching $38.36. The company’s stock had a trading volume of 357,448 shares, compared to its average volume of 1,591,642. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 166.83 and a beta of -3.16. The company’s 50-day moving average is $42.80 and its two-hundred day moving average is $53.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 16.08 and a quick ratio of 15.88. Soleno Therapeutics has a 1-year low of $32.63 and a 1-year high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.64 by $0.16. The business had revenue of $91.73 million during the quarter, compared to analyst estimates of $88.55 million. On average, equities analysts predict that Soleno Therapeutics will post -3.72 EPS for the current year.

Hedge Funds Weigh In On Soleno Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Seven Fleet Capital Management LP purchased a new position in shares of Soleno Therapeutics during the 4th quarter worth $6,023,000. Virtu Financial LLC acquired a new position in Soleno Therapeutics in the 4th quarter valued at about $1,059,000. Empowered Funds LLC purchased a new stake in shares of Soleno Therapeutics in the 4th quarter valued at approximately $69,000. KVP Capital Advisors LP acquired a new stake in shares of Soleno Therapeutics during the 4th quarter worth approximately $2,764,000. Finally, XTX Topco Ltd purchased a new stake in shares of Soleno Therapeutics during the 4th quarter valued at approximately $1,680,000. Institutional investors and hedge funds 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.