Wells Fargo & Company Lowers Soleno Therapeutics (NASDAQ:SLNO) Price Target to $110.00

Soleno Therapeutics (NASDAQ:SLNO) had its target price cut by research analysts at Wells Fargo & Company from $114.00 to $110.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 186.76% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen upgraded Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Thursday, January 22nd. Robert W. Baird set a $107.00 price objective on shares of Soleno Therapeutics in a report on Tuesday, January 13th. Finally, TD Cowen cut their target price on shares of Soleno Therapeutics from $120.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday. One research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Soleno Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.38.

Soleno Therapeutics Trading Up 0.7%

NASDAQ SLNO traded up $0.27 during trading hours on Friday, reaching $38.36. The company had a trading volume of 357,448 shares, compared to its average volume of 1,591,642. The company has a current ratio of 16.08, a quick ratio of 15.88 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $2.06 billion, a P/E ratio of 166.83 and a beta of -3.16. The stock has a 50-day moving average of $42.80 and a 200 day moving average of $53.86. Soleno Therapeutics has a 1-year low of $32.63 and a 1-year high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16. The company had revenue of $91.73 million for the quarter, compared to analysts’ expectations of $88.55 million. As a group, research analysts anticipate that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLNO. CenterBook Partners LP increased its holdings in shares of Soleno Therapeutics by 156.2% in the 3rd quarter. CenterBook Partners LP now owns 62,794 shares of the company’s stock valued at $4,245,000 after acquiring an additional 38,282 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Soleno Therapeutics by 255.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 280,984 shares of the company’s stock worth $18,995,000 after purchasing an additional 201,983 shares during the last quarter. Castleark Management LLC acquired a new position in Soleno Therapeutics in the second quarter valued at approximately $2,919,000. TimesSquare Capital Management LLC increased its stake in Soleno Therapeutics by 52.6% in the third quarter. TimesSquare Capital Management LLC now owns 377,566 shares of the company’s stock valued at $25,523,000 after purchasing an additional 130,197 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Soleno Therapeutics by 133.0% during the second quarter. Marshall Wace LLP now owns 288,334 shares of the company’s stock worth $24,157,000 after purchasing an additional 164,580 shares in the last quarter. 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.