Soleno Therapeutics (NASDAQ:SLNO) Given New $85.00 Price Target at TD Cowen

Soleno Therapeutics (NASDAQ:SLNO) had its price target cut by investment analysts at TD Cowen from $120.00 to $85.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price objective points to a potential upside of 131.04% from the company’s current price.

A number of other research analysts have also issued reports on SLNO. Zacks Research downgraded shares of Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Wall Street Zen raised Soleno Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Wells Fargo & Company reissued 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. HC Wainwright restated a “buy” rating and set a $120.00 target price (up from $110.00) on shares of Soleno Therapeutics in a research note on Tuesday, January 20th. Finally, Wolfe Research set a $60.00 price target on Soleno Therapeutics in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Soleno Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $108.69.

Soleno Therapeutics Stock Down 10.3%

Shares of SLNO traded down $4.22 during trading hours on Thursday, hitting $36.79. 2,534,932 shares of the company were exchanged, compared to its average volume of 1,578,542. 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 company has a market cap of $1.98 billion, a PE ratio of -20.03 and a beta of -3.16. The firm’s 50 day moving average is $43.01 and its 200-day moving average is $53.97. Soleno Therapeutics has a 52 week low of $32.63 and a 52 week high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.16. The company had revenue of $91.73 million during the quarter, compared to analyst estimates of $88.55 million. On average, equities research analysts forecast that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Soleno Therapeutics

A number of hedge funds have recently made changes to their positions in SLNO. Raymond James Financial Inc. bought a new stake in Soleno Therapeutics in the second quarter valued at about $25,000. Danske Bank A S bought a new stake in shares of Soleno Therapeutics in the 3rd quarter valued at approximately $27,000. Global Retirement Partners LLC raised its holdings in shares of Soleno Therapeutics by 519.0% in the 4th quarter. Global Retirement Partners LLC now owns 619 shares of the company’s stock worth $29,000 after buying an additional 519 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Soleno Therapeutics during the 3rd quarter worth approximately $37,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Soleno Therapeutics by 287.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 539 shares of the company’s stock worth $45,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 97.42% of the company’s stock.

About Soleno Therapeutics

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.