Soleno Therapeutics (NASDAQ:SLNO) Releases Earnings Results, Misses Estimates By $0.41 EPS

Soleno Therapeutics (NASDAQ:SLNO) released its earnings results on Wednesday. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.41), Zacks reports.

Soleno Therapeutics Price Performance

Shares of SLNO stock opened at $44.94 on Friday. The company has a market capitalization of $1.94 billion, a P/E ratio of -13.54 and a beta of -1.46. The company’s 50-day simple moving average is $47.16 and its two-hundred day simple moving average is $49.83. Soleno Therapeutics has a one year low of $36.61 and a one year high of $60.92.

Wall Street Analyst Weigh In

SLNO has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research report on Monday. Stifel Nicolaus assumed coverage on shares of Soleno Therapeutics in a research note on Wednesday. They set a “buy” rating and a $74.00 price target for the company. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $71.20.

Insider Activity

In other news, insider Kristen Yen sold 2,340 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the transaction, the insider now owns 76,605 shares in the company, valued at approximately $3,537,618.90. This trade represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James H. Mackaness sold 4,083 shares of Soleno Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $185,409.03. Following the completion of the sale, the chief financial officer now owns 115,089 shares of the company’s stock, valued at $5,226,191.49. The trade was a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,360 shares of company stock valued at $790,119. Corporate insiders own 12.30% of the company’s stock.

About Soleno Therapeutics

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.