Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $106.78 Average PT from Analysts

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have been given a consensus rating of “Buy” by the nine research firms that are covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $106.78.

SLNO has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on Soleno Therapeutics from $93.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Robert W. Baird lifted their price target on Soleno Therapeutics from $102.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Cantor Fitzgerald lifted their price target on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Stifel Nicolaus lifted their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a report on Friday, March 28th. Finally, UBS Group set a $105.00 price target on Soleno Therapeutics in a report on Thursday, March 27th.

Soleno Therapeutics Stock Up 2.3%

Shares of NASDAQ SLNO opened at $79.38 on Friday. The stock has a market cap of $4.00 billion, a PE ratio of -17.18 and a beta of -2.69. The business has a fifty day moving average of $74.63 and a two-hundred day moving average of $58.40. Soleno Therapeutics has a 52-week low of $36.93 and a 52-week high of $81.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 19.64 and a current ratio of 19.64.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.19. As a group, equities research analysts expect that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Bhatnagar Anish sold 699,095 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 577,076 shares in the company, valued at approximately $39,021,879.12. The trade was a 54.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patricia C. Hirano sold 3,782 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total value of $265,156.02. Following the transaction, the insider now owns 27,036 shares of the company’s stock, valued at $1,895,493.96. The trade was a 12.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 942,672 shares of company stock valued at $64,058,781. 6.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Soleno Therapeutics

Several institutional investors have recently modified their holdings of SLNO. AlphaQuest LLC grew its position in shares of Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock worth $32,000 after buying an additional 658 shares during the period. US Bancorp DE acquired a new position in shares of Soleno Therapeutics during the 4th quarter worth about $34,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in shares of Soleno Therapeutics during the 4th quarter worth about $81,000. Summit Investment Advisors Inc. grew its position in shares of Soleno Therapeutics by 24.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company’s stock worth $120,000 after buying an additional 522 shares during the period. Finally, Quarry LP acquired a new position in shares of Soleno Therapeutics during the 1st quarter worth about $121,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

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.