Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) - Equities research analysts at HC Wainwright raised their FY2024 earnings per share (EPS) estimates for Soleno Therapeutics in a research note issued to investors on Monday, December 2nd. HC Wainwright analyst R. Selvaraju now expects that the company will post earnings of ($3.74) per share for the year, up from their previous forecast of ($4.04). HC Wainwright currently has a "Buy" rating and a $70.00 price target on the stock. The consensus estimate for Soleno Therapeutics' current full-year earnings is ($3.76) per share. HC Wainwright also issued estimates for Soleno Therapeutics' Q4 2024 earnings at ($0.71) EPS, Q1 2025 earnings at ($0.71) EPS, Q3 2025 earnings at ($0.79) EPS, Q4 2025 earnings at ($0.78) EPS and FY2025 earnings at ($3.07) EPS.
Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($1.22).
Several other analysts have also issued reports on the company. Stifel Nicolaus restated a "buy" rating and issued a $74.00 target price on shares of Soleno Therapeutics in a research note on Monday. Cantor Fitzgerald restated an "overweight" rating and issued a $67.00 target price on shares of Soleno Therapeutics in a research note on Friday, September 20th. Robert W. Baird restated an "outperform" rating and issued a $72.00 target price on shares of Soleno Therapeutics in a research note on Monday. Finally, Oppenheimer boosted their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the company an "outperform" rating in a research note on Monday, October 28th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Soleno Therapeutics currently has an average rating of "Buy" and an average target price of $74.83.
Check Out Our Latest Research Report on Soleno Therapeutics
Shares of Soleno Therapeutics stock opened at $51.16 on Wednesday. The firm has a market capitalization of $2.21 billion, a P/E ratio of -15.41 and a beta of -1.47. The business's fifty day simple moving average is $53.63 and its 200 day simple moving average is $48.73. Soleno Therapeutics has a 12 month low of $27.27 and a 12 month high of $60.92.
In related news, CFO James H. Mackaness sold 8,077 shares of the business's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $399,246.11. Following the completion of the transaction, the chief financial officer now directly owns 119,172 shares in the company, valued at $5,890,671.96. The trade was a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bhatnagar Anish sold 21,633 shares of the company's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $1,069,319.19. Following the completion of the transaction, the chief executive officer now owns 719,553 shares of the company's stock, valued at $35,567,504.79. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,818 shares of company stock worth $1,622,194 over the last ninety days. 12.30% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new stake in shares of Soleno Therapeutics in the 2nd quarter valued at about $29,778,000. Janus Henderson Group PLC raised its position in Soleno Therapeutics by 21.5% during the 3rd quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company's stock valued at $206,016,000 after purchasing an additional 722,226 shares during the last quarter. Nantahala Capital Management LLC raised its position in Soleno Therapeutics by 27.9% during the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company's stock valued at $125,750,000 after purchasing an additional 671,728 shares during the last quarter. FMR LLC raised its position in Soleno Therapeutics by 6,048,754.5% during the 3rd quarter. FMR LLC now owns 665,374 shares of the company's stock valued at $33,595,000 after purchasing an additional 665,363 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Soleno Therapeutics during the 3rd quarter valued at approximately $25,028,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.
Soleno Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is Diazoxide Choline Extended-Release tablets, a once-daily oral tablet, which is in Phase III clinical trials for the treatment of Prader-Willi Syndrome.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Soleno Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Soleno Therapeutics wasn't on the list.
While Soleno Therapeutics currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.