Brokerages Set Soleno Therapeutics, Inc. (NASDAQ:SLNO) PT at $94.57

Soleno Therapeutics, Inc. (NASDAQ:SLNO) has been assigned a consensus rating of “Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $99.63.

A number of research firms have recently weighed in on SLNO. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Guggenheim reissued a “buy” rating and set a $81.00 target price (up previously from $70.00) on shares of Soleno Therapeutics in a research report on Friday, March 28th. Cantor Fitzgerald upped their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Robert W. Baird increased their price target on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, March 27th. Finally, Laidlaw boosted their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th.

Insider Buying and Selling at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 699,095 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $67.62, for a total value of $47,272,803.90. Following the completion of the transaction, the chief executive officer now directly owns 577,076 shares of the company’s stock, valued at approximately $39,021,879.12. This trade represents a 54.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patricia C. Hirano sold 128,653 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the sale, the insider now directly owns 55,789 shares in the company, valued at $3,811,504.48. The trade was a 69.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 942,672 shares of company stock worth $64,058,781 over the last ninety days. 12.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Soleno Therapeutics

Several hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its stake in Soleno Therapeutics by 27.1% in the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock worth $233,130,000 after purchasing an additional 1,107,166 shares during the period. FMR LLC boosted its position in shares of Soleno Therapeutics by 6,048,754.5% in the third quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after acquiring an additional 665,363 shares during the period. Nantahala Capital Management LLC grew its stake 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 valued at $176,607,000 after acquiring an additional 658,518 shares in the last quarter. Avoro Capital Advisors LLC grew its stake in Soleno Therapeutics by 15.8% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock valued at $113,499,000 after acquiring an additional 344,000 shares in the last quarter. Finally, Vestal Point Capital LP lifted its stake in Soleno Therapeutics by 47.2% in the 4th quarter. Vestal Point Capital LP now owns 1,060,000 shares of the company’s stock worth $47,647,000 after purchasing an additional 340,000 shares in the last quarter. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Soleno Therapeutics Stock Down 6.5 %

Shares of SLNO opened at $67.48 on Monday. The business’s fifty day moving average is $51.19 and its 200 day moving average is $50.75. Soleno Therapeutics has a 12-month low of $36.61 and a 12-month high of $74.00. The stock has a market cap of $3.09 billion, a P/E ratio of -20.33 and a beta of -2.29.

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

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.