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

Soleno Therapeutics (NASDAQ:SLNO) had its price objective hoisted by Robert W. Baird from $102.00 to $105.00 in a research report report published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Stifel Nicolaus raised their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, March 28th. Laidlaw boosted their target price on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. HC Wainwright reaffirmed a “buy” rating and set a $100.00 price target on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Guggenheim reaffirmed a “buy” rating and set a $81.00 target price (up from $70.00) on shares of Soleno Therapeutics in a research report on Friday, March 28th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $106.78.

Soleno Therapeutics Trading Up 0.7 %

SLNO stock opened at $76.77 on Thursday. The firm has a market cap of $3.83 billion, a PE ratio of -23.12 and a beta of -2.67. The stock has a 50-day moving average price of $63.25 and a 200-day moving average price of $54.36. Soleno Therapeutics has a 1-year low of $36.93 and a 1-year high of $80.99.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.19. On average, analysts forecast that Soleno Therapeutics will post -3.72 earnings per share for the current year.

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics news, CFO James H. Mackaness sold 90,622 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $69.44, for a total transaction of $6,292,791.68. Following the transaction, the chief financial officer now owns 105,176 shares of the company’s stock, valued at $7,303,421.44. This trade represents a 46.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bhatnagar Anish sold 699,095 shares of the company’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 represents a 54.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 942,672 shares of company stock worth $64,058,781. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

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