Soleno Therapeutics (NASDAQ:SLNO) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Soleno Therapeutics (NASDAQ:SLNO) had its price objective hoisted by stock analysts at Robert W. Baird from $102.00 to $105.00 in a report released on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 36.77% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. Cantor Fitzgerald upped their price target on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Stifel Nicolaus raised their target price on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Guggenheim reissued a “buy” rating and set a $81.00 price target (up previously from $70.00) on shares of Soleno Therapeutics in a research report on Friday, March 28th. Piper Sandler raised their price objective on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Finally, UBS Group set a $105.00 target price on shares of Soleno Therapeutics in a report on Thursday, March 27th. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $106.78.

Soleno Therapeutics Stock Performance

NASDAQ SLNO opened at $76.77 on Thursday. The business has a fifty day moving average price of $63.25 and a 200 day moving average price of $54.35. The company has a market cap of $3.83 billion, a P/E ratio of -23.12 and a beta of -2.67. Soleno Therapeutics has a one year low of $36.93 and a one year high of $80.99.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.14) by $0.19. As a group, sell-side analysts predict that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other Soleno Therapeutics news, Director Matthew Pauls sold 5,937 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $71.55, for a total transaction of $424,792.35. Following the sale, the director now directly owns 6,500 shares in the company, valued at $465,075. This represents a 47.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Patricia C. Hirano sold 3,782 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total transaction of $265,156.02. Following the completion of the transaction, the insider now owns 27,036 shares of the company’s stock, valued at approximately $1,895,493.96. This trade represents a 12.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 942,672 shares of company stock worth $64,058,781 over the last ninety days. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AlphaQuest LLC raised its position in Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares in the last quarter. US Bancorp DE acquired a new stake in Soleno Therapeutics in the fourth quarter valued at approximately $34,000. Avanza Fonder AB purchased a new position in Soleno Therapeutics in the fourth quarter worth approximately $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in Soleno Therapeutics during the 4th quarter worth approximately $81,000. Finally, Avior Wealth Management LLC purchased a new stake in shares of Soleno Therapeutics in the 4th quarter valued at approximately $89,000. 97.42% of the stock is currently owned by hedge funds and other 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.