What is HC Wainwright’s Estimate for SLNO FY2024 Earnings?

Soleno Therapeutics, Inc. (NASDAQ:SLNO) – Equities researchers at HC Wainwright boosted their FY2024 earnings per share (EPS) estimates for shares of Soleno Therapeutics in a note issued to investors on Monday, December 2nd. HC Wainwright analyst R. Selvaraju now expects that the company will earn ($3.74) per share for the year, up from their prior estimate of ($4.04). HC Wainwright currently has a “Buy” rating and a $70.00 target price 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.

Several other analysts have also recently commented on SLNO. Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a research report on Friday, September 20th. Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 target price on shares of Soleno Therapeutics in a research note on Monday. Oppenheimer lifted 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. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 target price on shares of Soleno Therapeutics in a research note on Monday. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Soleno Therapeutics has an average rating of “Buy” and a consensus target price of $74.83.

Soleno Therapeutics Trading Down 1.0 %

Shares of Soleno Therapeutics stock opened at $50.67 on Wednesday. The business’s 50 day simple moving average is $53.67 and its 200-day simple moving average is $48.75. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -15.26 and a beta of -1.47. Soleno Therapeutics has a twelve month low of $27.27 and a twelve month high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22).

Insider Activity

In related news, CFO James H. Mackaness sold 8,077 shares of Soleno Therapeutics stock in a transaction 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 $5,890,671.96. The trade was a 6.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bhatnagar Anish sold 21,633 shares of Soleno Therapeutics stock in a transaction on 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 in the company, 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. In the last ninety days, insiders have sold 32,818 shares of company stock worth $1,622,194. 12.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Soleno Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Sofinnova Investments Inc. grew its holdings in shares of Soleno Therapeutics by 267.7% during the second quarter. Sofinnova Investments Inc. now owns 554,359 shares of the company’s stock valued at $22,618,000 after buying an additional 403,584 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Soleno Therapeutics by 174.0% during the second quarter. TD Asset Management Inc now owns 57,534 shares of the company’s stock valued at $2,347,000 after buying an additional 36,534 shares in the last quarter. Samlyn Capital LLC grew its holdings in shares of Soleno Therapeutics by 128.9% during the second quarter. Samlyn Capital LLC now owns 501,049 shares of the company’s stock valued at $20,443,000 after buying an additional 282,122 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Soleno Therapeutics during the second quarter valued at $3,623,000. Finally, SG Americas Securities LLC purchased a new position in shares of Soleno Therapeutics during the second quarter valued at $569,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

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.