HC Wainwright Issues Pessimistic Forecast for Soleno Therapeutics (NASDAQ:SLNO) Stock Price

Soleno Therapeutics (NASDAQ:SLNO) had its target price decreased by investment analysts at HC Wainwright from $120.00 to $100.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 165.11% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Thursday, January 22nd. 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 target on Soleno Therapeutics in a research note on Tuesday, January 13th. TD Cowen lowered their price objective on Soleno Therapeutics from $120.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, Wall Street Zen lowered Soleno Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $106.85.

Soleno Therapeutics Price Performance

NASDAQ SLNO opened at $37.72 on Wednesday. The business’s fifty day moving average is $42.20 and its 200 day moving average is $52.62. Soleno Therapeutics has a fifty-two week low of $32.63 and a fifty-two week high of $90.32. The company has a debt-to-equity ratio of 0.11, a quick ratio of 5.55 and a current ratio of 5.80. The company has a market capitalization of $1.95 billion, a PE ratio of 164.01 and a beta of -3.16.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.80 EPS 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 the consensus estimate of $88.55 million. Sell-side analysts predict that Soleno Therapeutics will post -3.72 earnings per share for the current year.

Institutional Investors Weigh In On Soleno Therapeutics

Hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in Soleno Therapeutics by 18.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,178,354 shares of the company’s stock valued at $332,302,000 after buying an additional 1,122,015 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Soleno Therapeutics by 43.7% during the 4th quarter. Wellington Management Group LLP now owns 3,322,799 shares of the company’s stock valued at $153,846,000 after acquiring an additional 1,010,704 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Soleno Therapeutics by 9.0% during the 4th quarter. Vanguard Group Inc. now owns 3,060,361 shares of the company’s stock valued at $141,695,000 after acquiring an additional 253,212 shares during the last quarter. Avoro Capital Advisors LLC grew its holdings in shares of Soleno Therapeutics by 12.5% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,900,000 shares of the company’s stock valued at $134,270,000 after purchasing an additional 322,223 shares in the last quarter. Finally, State Street Corp increased its position in Soleno Therapeutics by 21.9% in the fourth quarter. State Street Corp now owns 2,649,626 shares of the company’s stock worth $122,678,000 after purchasing an additional 476,590 shares during 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.