Analysts Set Soleno Therapeutics, Inc. (NASDAQ:SLNO) Price Target at $74.83

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have earned a consensus rating of “Buy” from the seven analysts that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $74.83.

Several research firms recently weighed in on SLNO. Stifel Nicolaus restated a “buy” rating and issued a $74.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Oppenheimer raised their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Robert W. Baird reiterated an “outperform” rating and set a $72.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Finally, HC Wainwright reiterated a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a research report on Monday, December 2nd.

Soleno Therapeutics Stock Up 1.9 %

Shares of SLNO opened at $46.88 on Wednesday. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -14.12 and a beta of -1.47. Soleno Therapeutics has a 52 week low of $36.61 and a 52 week high of $60.92. The business has a 50-day simple moving average of $49.03 and a two-hundred day simple moving average of $49.55.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($1.22). On average, equities analysts anticipate that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Insider Activity at Soleno Therapeutics

In other news, CFO James H. Mackaness sold 4,083 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $185,409.03. Following the completion of the sale, the chief financial officer now directly owns 115,089 shares of the company’s stock, valued at approximately $5,226,191.49. The trade was a 3.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bhatnagar Anish sold 10,937 shares of Soleno Therapeutics stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total transaction of $496,649.17. Following the completion of the transaction, the chief executive officer now owns 708,616 shares in the company, valued at approximately $32,178,252.56. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,360 shares of company stock worth $790,119. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank purchased a new position in Soleno Therapeutics during the second quarter worth $31,000. Avanza Fonder AB acquired a new position in shares of Soleno Therapeutics during the 4th quarter valued at $76,000. Avior Wealth Management LLC acquired a new position in shares of Soleno Therapeutics during the fourth quarter worth about $89,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Soleno Therapeutics in the third quarter valued at about $155,000. Finally, Curi RMB Capital LLC purchased a new stake in Soleno Therapeutics during the 3rd quarter worth approximately $202,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

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.