Analysts Set Soleno Therapeutics, Inc. (NASDAQ:SLNO) PT at $104.67

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have earned an average recommendation of “Buy” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $104.67.

Several research firms recently weighed in on SLNO. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Stifel Nicolaus raised their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, March 28th. UBS Group set a $105.00 price objective on Soleno Therapeutics in a report on Thursday, March 27th. Robert W. Baird raised their price objective on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, March 27th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $81.00 target price (up previously from $70.00) on shares of Soleno Therapeutics in a research note on Friday, March 28th.

Soleno Therapeutics Trading Up 2.2 %

SLNO stock opened at $75.27 on Friday. The firm has a 50 day moving average of $58.49 and a 200-day moving average of $53.16. The firm has a market capitalization of $3.76 billion, a P/E ratio of -22.67 and a beta of -2.29. Soleno Therapeutics has a 12 month low of $36.93 and a 12 month high of $76.56.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.41). Sell-side analysts predict that Soleno Therapeutics will post -3.72 EPS for the current year.

Insider Buying and Selling

In related news, CEO Bhatnagar Anish sold 699,095 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $67.62, for a total value of $47,272,803.90. Following the completion of the sale, the chief executive officer now owns 577,076 shares of the company’s stock, valued at $39,021,879.12. This trade represents a 54.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $70.11, for a total transaction of $265,156.02. Following the transaction, the insider now directly owns 27,036 shares in the company, valued at approximately $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. Insiders have sold 942,672 shares of company stock valued at $64,058,781 over the last ninety days. 12.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Soleno Therapeutics

A number of large investors have recently modified their holdings of the stock. Barclays PLC lifted its holdings in Soleno Therapeutics by 149.3% in the third quarter. Barclays PLC now owns 52,545 shares of the company’s stock worth $2,652,000 after buying an additional 31,467 shares during the period. Geode Capital Management LLC lifted its stake in shares of Soleno Therapeutics by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock valued at $27,286,000 after purchasing an additional 51,189 shares during the period. Virtu Financial LLC bought a new stake in shares of Soleno Therapeutics during the third quarter valued at approximately $490,000. JPMorgan Chase & Co. grew its stake in Soleno Therapeutics by 35.8% in the third quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company’s stock worth $703,000 after purchasing an additional 3,666 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in Soleno Therapeutics by 3.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 37,296 shares of the company’s stock worth $1,676,000 after purchasing an additional 1,248 shares in 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.