What is HC Wainwright's Forecast for SLNO FY2024 Earnings?

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) - Stock analysts at HC Wainwright increased their FY2024 earnings estimates for Soleno Therapeutics in a research report issued to clients and investors on Monday, December 2nd. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings per share of ($3.74) for the year, up from their previous 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.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($1.22).

A number of other equities analysts also recently weighed in on SLNO. Stifel Nicolaus reissued a "buy" rating and set a $74.00 target price on shares of Soleno Therapeutics in a research note on Monday. Oppenheimer lifted their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an "outperform" rating in a research note on Monday, October 28th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $67.00 price target on shares of Soleno Therapeutics in a research note on Friday, September 20th. Finally, Robert W. Baird reaffirmed an "outperform" rating and issued a $72.00 price target on shares of Soleno Therapeutics in a research note on Monday. Six research 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.com, the company currently has an average rating of "Buy" and a consensus price target of $74.83.

Soleno Therapeutics Price Performance

NASDAQ SLNO traded down $0.49 during mid-day trading on Wednesday, reaching $50.67. 602,376 shares of the stock were exchanged, compared to its average volume of 484,089. Soleno Therapeutics has a one year low of $27.27 and a one year high of $60.92. The stock has a 50 day simple moving average of $53.63 and a 200-day simple moving average of $48.73. The stock has a market cap of $2.18 billion, a P/E ratio of -15.41 and a beta of -1.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Amalgamated Bank bought a new position in shares of Soleno Therapeutics during the 2nd quarter valued at approximately $31,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Soleno Therapeutics during the 3rd quarter valued at approximately $155,000. Curi RMB Capital LLC purchased a new stake in Soleno Therapeutics in the 3rd quarter worth approximately $202,000. Intech Investment Management LLC purchased a new stake in Soleno Therapeutics in the 3rd quarter worth approximately $262,000. Finally, Fred Alger Management LLC purchased a new stake in Soleno Therapeutics in the 3rd quarter worth approximately $310,000. 97.42% of the stock is owned by institutional investors.

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, insider Kristen Yen sold 3,108 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $153,628.44. Following the completion of the sale, the insider now directly owns 81,465 shares of the company's stock, valued at approximately $4,026,814.95. This represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $1,069,319.19. Following the completion of the sale, the chief executive officer now directly 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 valued at $1,622,194 over the last three months. Corporate insiders own 12.30% of the company's stock.

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.