Soleno Therapeutics (NASDAQ:SLNO) Receives “Hold” Rating from TD Cowen

Soleno Therapeutics (NASDAQ:SLNO)‘s stock had its “hold” rating reiterated by investment analysts at TD Cowen in a research report issued on Tuesday,Benzinga reports. They presently have a $53.00 price target on the stock, down from their previous price target of $85.00. TD Cowen’s price target suggests a potential upside of 1.41% from the company’s current price.

Several other research analysts have also issued reports on the stock. Robert W. Baird set a $107.00 price target on shares of Soleno Therapeutics in a research report on Tuesday, January 13th. Lifesci Capital lowered shares of Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday. Oppenheimer lowered their price objective on shares of Soleno Therapeutics from $110.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 18th. Wells Fargo & Company lowered their price objective on shares of Soleno Therapeutics from $114.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $93.90.

Soleno Therapeutics Price Performance

Soleno Therapeutics stock traded up $0.02 during mid-day trading on Tuesday, hitting $52.27. The company’s stock had a trading volume of 4,501,987 shares, compared to its average volume of 2,535,892. The company has a quick ratio of 5.55, a current ratio of 5.80 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $2.70 billion, a P/E ratio of 227.20 and a beta of -2.81. Soleno Therapeutics has a twelve month low of $29.43 and a twelve month high of $90.32. The stock’s fifty day moving average price is $37.99 and its two-hundred day moving average price is $47.81.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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. Research analysts forecast that Soleno Therapeutics will post -3.72 earnings per share 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 company. Raymond James Financial Inc. purchased a new position in Soleno Therapeutics during the 2nd quarter worth approximately $25,000. Danske Bank A S purchased a new position in Soleno Therapeutics during the 3rd quarter worth approximately $27,000. Aster Capital Management DIFC Ltd purchased a new position in Soleno Therapeutics during the 3rd quarter worth approximately $37,000. Global Retirement Partners LLC grew its position in Soleno Therapeutics by 519.0% during the 4th quarter. Global Retirement Partners LLC now owns 619 shares of the company’s stock worth $29,000 after purchasing an additional 519 shares in the last quarter. Finally, Quarry LP purchased a new position in Soleno Therapeutics during the 3rd quarter worth approximately $47,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Key Soleno Therapeutics News

Here are the key news stories impacting Soleno Therapeutics this week:

• Positive Sentiment: Neurocrine agreed to acquire Soleno for $53.00 per share in cash (~$2.9 billion), a ~34% premium to pre-announcement levels; Neurocrine says VYKAT XR strengthens its rare-disease portfolio and a conference call was scheduled to discuss the transaction. Neurocrine to acquire Soleno (BusinessWire)
• Neutral Sentiment: Trading in SLNO was temporarily halted prior to the announcement for “news pending,” a routine market response that preceded the takeover disclosure and limited intraday liquidity around the news.
• Negative Sentiment: Multiple securities class-action lawsuits and law-firm solicitations have been filed or announced alleging that Soleno misstated or concealed risks around its DCCR/VYKAT XR program; firms (Rosen, Hagens Berman, Bronstein, Levi & Korsinsky, Schall, Gross, DJS and others) are soliciting lead plaintiffs with a May 5 deadline. This litigation creates legal risk, potential settlement costs and distraction for management. Investor alert / class action (GlobeNewswire)
• Negative Sentiment: Several shareholder-rights firms and advisors are investigating whether the $53 per-share deal is fair to Soleno public shareholders and whether the board fulfilled fiduciary duties — these fairness probes can lead to litigation or demands that delay closing or alter terms. Fairness investigation (Halper Sadeh / BusinessWire)
• Negative Sentiment: Analyst sentiment has soured: Cantor Fitzgerald cut SLNO to “hold” and trimmed its price target to $53 (now aligned with the deal price) and Lifesci Capital downgraded from “strong-buy” to “hold.” These downgrades can dampen buying interest absent a higher bid or strategic alternative. Cantor Fitzgerald downgrade (Benzinga) Lifesci downgrade (Zacks)
• Negative Sentiment: Soleno voluntarily withdrew its EU marketing application for the Prader–Willi hyperphagia treatment (VYKAT XR), which could limit near-term international expansion and reduces the product’s addressable market outside the U.S. EU application withdrawal (TipRanks)

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.