Soleno Therapeutics (NASDAQ:SLNO) Price Target Raised to $102.00

Soleno Therapeutics (NASDAQ:SLNO) had its target price raised by Robert W. Baird from $72.00 to $102.00 in a research note released on Thursday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other research analysts have also issued reports about the company. HC Wainwright reiterated a “buy” rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Stifel Nicolaus began coverage on shares of Soleno Therapeutics in a research report on Wednesday, March 5th. They set a “buy” rating and a $74.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $94.57.

Soleno Therapeutics Price Performance

SLNO stock opened at $71.99 on Thursday. The business has a fifty day moving average price of $48.94 and a 200 day moving average price of $50.07. Soleno Therapeutics has a fifty-two week low of $36.61 and a fifty-two week high of $73.97. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -21.68 and a beta of -1.70.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.41). On average, equities analysts expect that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO James H. Mackaness sold 4,083 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $185,409.03. Following the completion of the transaction, the chief financial officer now directly owns 115,089 shares in the company, valued at approximately $5,226,191.49. The trade was a 3.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kristen Yen sold 2,340 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total value of $108,061.20. Following the sale, the insider now directly owns 76,605 shares of the company’s stock, valued at $3,537,618.90. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,360 shares of company stock valued at $790,119 in the last quarter. 12.30% of the stock is currently owned by insiders.

Institutional Trading of Soleno Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC increased its position in Soleno Therapeutics by 27.1% during the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock worth $233,130,000 after buying an additional 1,107,166 shares during the period. Nantahala Capital Management LLC increased its position in Soleno Therapeutics by 20.1% during the fourth quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock worth $176,607,000 after acquiring an additional 658,518 shares during the period. Avoro Capital Advisors LLC boosted its holdings in Soleno Therapeutics by 15.8% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock valued at $113,499,000 after purchasing an additional 344,000 shares during the period. Vanguard Group Inc. grew its position in shares of Soleno Therapeutics by 19.2% during the 4th quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock worth $84,710,000 after purchasing an additional 303,806 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Soleno Therapeutics by 24.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company’s stock worth $73,301,000 after purchasing an additional 321,223 shares during the period. Institutional investors own 97.42% of the company’s stock.

About Soleno Therapeutics

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.