Brokerages Set Soleno Therapeutics, Inc. (NASDAQ:SLNO) Target Price at $110.62

Soleno Therapeutics, Inc. (NASDAQ:SLNO) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $110.6154.

SLNO has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $120.00 price target (up from $110.00) on shares of Soleno Therapeutics in a research note on Tuesday, January 20th. Robert W. Baird set a $107.00 price objective on Soleno Therapeutics in a report on Tuesday, January 13th. 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 Soleno Therapeutics in a research note on Monday, January 12th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $114.00 price target (up from $106.00) on shares of Soleno Therapeutics in a research note on Tuesday, January 20th.

Soleno Therapeutics Stock Performance

NASDAQ:SLNO opened at $39.36 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 16.08 and a quick ratio of 15.88. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -21.39 and a beta of -3.16. The firm’s fifty day moving average price is $43.59 and its 200 day moving average price is $54.83. Soleno Therapeutics has a 1-year low of $36.67 and a 1-year high of $90.32.

Hedge Funds Weigh In On Soleno Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in SLNO. Janus Henderson Group PLC lifted its stake in shares of Soleno Therapeutics by 18.5% in the fourth quarter. Janus Henderson Group PLC now owns 7,178,354 shares of the company’s stock valued at $332,302,000 after purchasing an additional 1,122,015 shares during the period. Wellington Management Group LLP increased its holdings in Soleno Therapeutics by 43.7% in the fourth quarter. Wellington Management Group LLP now owns 3,322,799 shares of the company’s stock valued at $153,846,000 after buying an additional 1,010,704 shares in the last quarter. Vanguard Group Inc. lifted 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 period. Avoro Capital Advisors LLC boosted its stake in shares of Soleno Therapeutics by 12.5% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,900,000 shares of the company’s stock worth $134,270,000 after acquiring an additional 322,223 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Soleno Therapeutics by 21.9% in the 4th quarter. State Street Corp now owns 2,649,626 shares of the company’s stock worth $122,678,000 after acquiring an additional 476,590 shares during the period. 97.42% of the stock is owned by institutional investors and hedge funds.

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.