Soleno Therapeutics (NASDAQ:SLNO) Coverage Initiated at TD Cowen

Equities researchers at TD Cowen initiated coverage on shares of Soleno Therapeutics (NASDAQ:SLNO) in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $110.00 price target on the stock. TD Cowen’s price objective would indicate a potential upside of 37.53% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Piper Sandler upped their price target on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Robert W. Baird increased their price objective on Soleno Therapeutics from $102.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. UBS Group set a $105.00 target price on Soleno Therapeutics in a report on Thursday, March 27th. Laidlaw raised their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Finally, Cantor Fitzgerald upped their price objective on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Soleno Therapeutics currently has a consensus rating of “Buy” and an average price target of $107.10.

Soleno Therapeutics Trading Up 0.8%

NASDAQ SLNO opened at $79.98 on Monday. The company has a market cap of $4.03 billion, a price-to-earnings ratio of -17.31 and a beta of -2.69. Soleno Therapeutics has a twelve month low of $36.93 and a twelve month high of $81.54. The company has a quick ratio of 19.64, a current ratio of 19.64 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average is $75.22 and its 200 day moving average is $58.93.

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

Insider Transactions at Soleno Therapeutics

In related news, VP Michael F. Huang sold 14,583 shares of Soleno Therapeutics stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $69.51, for a total value of $1,013,664.33. Following the completion of the sale, the vice president now owns 36,817 shares of the company’s stock, valued at approximately $2,559,149.67. This trade represents a 28.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Patricia C. Hirano sold 128,653 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the completion of the transaction, the insider now directly owns 55,789 shares in the company, valued at $3,811,504.48. This trade represents a 69.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 942,672 shares of company stock valued at $64,058,781 in the last 90 days. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its stake in Soleno Therapeutics by 5.9% during the 1st quarter. Rhumbline Advisers now owns 36,439 shares of the company’s stock valued at $2,604,000 after acquiring an additional 2,044 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Soleno Therapeutics by 48.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 40,715 shares of the company’s stock worth $2,909,000 after buying an additional 13,211 shares during the last quarter. Optimize Financial Inc bought a new position in shares of Soleno Therapeutics in the first quarter valued at approximately $274,000. Woodline Partners LP lifted its holdings in Soleno Therapeutics by 16.0% during the first quarter. Woodline Partners LP now owns 349,664 shares of the company’s stock worth $24,983,000 after acquiring an additional 48,102 shares during the period. Finally, Fred Alger Management LLC boosted its position in Soleno Therapeutics by 172.8% in the first quarter. Fred Alger Management LLC now owns 40,394 shares of the company’s stock worth $2,886,000 after purchasing an additional 25,589 shares during the last quarter. 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.