Soleno Therapeutics (NASDAQ:SLNO) Price Target Raised to $105.00

Soleno Therapeutics (NASDAQ:SLNO) had its price target upped by Laidlaw from $75.00 to $105.00 in a research note published on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently commented on SLNO. 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 price objective for the company. Robert W. Baird raised their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday. HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Soleno Therapeutics in a research note on Monday, March 3rd. Cantor Fitzgerald upped their price target on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $94.57.

Soleno Therapeutics Stock Up 6.8 %

Shares of NASDAQ SLNO opened at $71.99 on Thursday. The company has a market capitalization of $3.30 billion, a PE ratio of -21.68 and a beta of -1.70. The firm has a fifty day simple moving average of $48.94 and a 200 day simple moving average of $50.07. Soleno Therapeutics has a twelve month low of $36.61 and a twelve month high of $73.97.

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

Insider Activity at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 10,937 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $496,649.17. Following the completion of the transaction, the chief executive officer now directly owns 708,616 shares of the company’s stock, valued at $32,178,252.56. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO James H. Mackaness sold 4,083 shares of Soleno Therapeutics stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $185,409.03. Following the sale, the chief financial officer now owns 115,089 shares in the company, valued at $5,226,191.49. This trade represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,360 shares of company stock valued at $790,119 over the last 90 days. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

A number of hedge funds have recently made changes to their positions in SLNO. Janus Henderson Group PLC increased its holdings in Soleno Therapeutics by 27.1% during the fourth 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 last quarter. Nantahala Capital Management LLC grew its position in shares of Soleno Therapeutics by 20.1% during the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock valued at $176,607,000 after acquiring an additional 658,518 shares during the period. Avoro Capital Advisors LLC increased its stake in shares of Soleno Therapeutics by 15.8% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock worth $113,499,000 after purchasing an additional 344,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Soleno Therapeutics by 19.2% in 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 during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Soleno Therapeutics by 24.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company’s stock valued at $73,301,000 after purchasing an additional 321,223 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors.

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.