HC Wainwright Analysts Increase Earnings Estimates for SLNO

Soleno Therapeutics, Inc. (NASDAQ:SLNO) – Investment analysts at HC Wainwright lifted their FY2024 earnings estimates for Soleno Therapeutics in a report issued on Monday, December 2nd. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings of ($3.74) per share for the year, up from their previous estimate of ($4.04). HC Wainwright has a “Buy” rating and a $70.00 price target on the stock. The consensus estimate for Soleno Therapeutics’ current full-year earnings is ($3.70) 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.

A number of other equities analysts also recently commented on SLNO. Robert W. Baird reiterated an “outperform” rating and issued a $72.00 target price on shares of Soleno Therapeutics in a report on Monday. Oppenheimer increased their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 price objective on shares of Soleno Therapeutics in a research note on Monday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a research note on Friday, September 20th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Soleno Therapeutics has a consensus rating of “Buy” and an average target price of $74.83.

Soleno Therapeutics Price Performance

NASDAQ:SLNO opened at $49.65 on Wednesday. Soleno Therapeutics has a 1-year low of $31.61 and a 1-year high of $60.92. The company has a 50-day moving average of $53.69 and a 200 day moving average of $48.75. The firm has a market cap of $2.14 billion, a PE ratio of -14.95 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22).

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new position in shares of Soleno Therapeutics in the second quarter valued at approximately $31,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Soleno Therapeutics in the third quarter valued at $155,000. Curi RMB Capital LLC acquired a new position in Soleno Therapeutics in the third quarter valued at $202,000. Intech Investment Management LLC acquired a new position in Soleno Therapeutics in the third quarter valued at $262,000. Finally, Fred Alger Management LLC acquired a new stake in Soleno Therapeutics during the third quarter worth about $310,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 21,633 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $1,069,319.19. Following 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO James H. Mackaness sold 8,077 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $399,246.11. Following the transaction, the chief financial officer now directly owns 119,172 shares in the company, valued at approximately $5,890,671.96. This trade represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,818 shares of company stock worth $1,622,194 in the last three months. 12.30% of the stock is owned by company insiders.

Soleno Therapeutics Company Profile

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.