Soleno Therapeutics Inc Receives a Buy from Noble Financial

Noble Financial analyst Caroline Palomeque maintained a Buy rating on Soleno Therapeutics Inc (NASDAQ: SLNO) today and set a price target of $4. The company’s shares opened today at $1.79.

Palomeque said:

“Soleno reported 1Q18, spending $3.5M in operating expenses and ending the period with $14.9M in cash, sufficient runway into 2019 and likely to the completion of the ongoing pivotal study of DCCR (diazoxide choline controlled-release tablets (DCCR) in Prader-Willi syndrome (PWS).”

According to TipRanks.com, Palomeque has currently no stars on a ranking scale of 0-5 stars, with an average return of -9.1% and a 36.1% success rate. Palomeque covers the Healthcare sector, focusing on stocks such as Adamas Pharmaceuticals, Corbus Pharmaceuticals, and Anavex Life Sciences.

Soleno Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $4.

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Based on Soleno Therapeutics Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $5.03 million. In comparison, last year the company had a GAAP net loss of $2.89 million.

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Soleno Therapeutics, Inc. is a healthcare company, focused on the development and commercialization of novel therapeutics for the treatment of rare diseases. It markets CoSense End-Tidal Carbon Monoxide monitor, which measures ETCO and is used by hospitals to detect hemolysis in newborns.

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