Brokerages Set Soleno Therapeutics, Inc. (NASDAQ:SLNO) Price Target at $104.67

Soleno Therapeutics, Inc. (NASDAQ:SLNO) has received a consensus rating of “Buy” from the ten analysts that are presently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $104.67.

SLNO has been the subject of several recent research reports. Laidlaw boosted their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Guggenheim restated a “buy” rating and issued a $81.00 target price (up previously from $70.00) on shares of Soleno Therapeutics in a report on Friday, March 28th. Cantor Fitzgerald upped their price target on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Finally, Robert W. Baird upped their target price on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, March 27th.

Insiders Place Their Bets

In other news, insider Patricia C. Hirano sold 3,782 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total transaction of $265,156.02. Following the completion of the sale, the insider now owns 27,036 shares in the company, valued at $1,895,493.96. This trade represents a 12.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the completion of the sale, the chief executive officer now directly owns 577,076 shares in the company, valued at $39,021,879.12. This trade represents a 54.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 942,672 shares of company stock valued at $64,058,781. Company insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

Several large investors have recently added to or reduced their stakes in SLNO. Legal & General Group Plc lifted its holdings in Soleno Therapeutics by 9.2% during the fourth quarter. Legal & General Group Plc now owns 23,471 shares of the company’s stock valued at $1,055,000 after purchasing an additional 1,983 shares during the last quarter. Barclays PLC lifted its stake in shares of Soleno Therapeutics by 149.3% during the 3rd quarter. Barclays PLC now owns 52,545 shares of the company’s stock valued at $2,652,000 after buying an additional 31,467 shares in the last quarter. Emerald Advisers LLC boosted its holdings in Soleno Therapeutics by 85.4% in the 4th quarter. Emerald Advisers LLC now owns 580,919 shares of the company’s stock worth $26,112,000 after buying an additional 267,585 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Soleno Therapeutics by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company’s stock valued at $9,779,000 after buying an additional 24,953 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Soleno Therapeutics by 47.0% in the 4th quarter. Sei Investments Co. now owns 16,444 shares of the company’s stock valued at $739,000 after buying an additional 5,258 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Stock Performance

Shares of NASDAQ:SLNO opened at $75.27 on Friday. Soleno Therapeutics has a 52-week low of $36.93 and a 52-week high of $76.56. The business’s 50 day simple moving average is $58.49 and its two-hundred day simple moving average is $53.16. The firm has a market cap of $3.76 billion, a P/E ratio of -22.67 and a beta of -2.29.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results 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). On average, equities analysts forecast that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal 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.