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

Soleno Therapeutics (NASDAQ:SLNO) had its price objective lifted by equities researchers at Robert W. Baird from $102.00 to $105.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 36.77% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler increased their target price on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. UBS Group set a $105.00 price target on Soleno Therapeutics in a research note on Thursday, March 27th. Cantor Fitzgerald lifted their price objective on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Finally, HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $106.78.

Soleno Therapeutics Stock Up 0.7 %

SLNO opened at $76.77 on Thursday. Soleno Therapeutics has a 52 week low of $36.93 and a 52 week high of $80.99. The business’s 50 day moving average is $63.25 and its two-hundred day moving average is $54.35. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -23.12 and a beta of -2.67.

Soleno Therapeutics (NASDAQ:SLNO) last announced its 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. Equities analysts expect that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insider Activity at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics stock in a transaction on 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 owns 577,076 shares of the company’s stock, valued at $39,021,879.12. The trade was a 54.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Patricia C. Hirano sold 3,782 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total transaction of $265,156.02. Following the completion of the sale, 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 sold 942,672 shares of company stock worth $64,058,781 over the last 90 days. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Soleno Therapeutics

Large investors have recently modified their holdings of the business. Westfield Capital Management Co. LP lifted its stake in Soleno Therapeutics by 37.4% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,211,245 shares of the company’s stock valued at $86,543,000 after buying an additional 329,785 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Soleno Therapeutics by 19.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,360 shares of the company’s stock valued at $312,000 after acquiring an additional 720 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of Soleno Therapeutics by 267.2% during the first quarter. XTX Topco Ltd now owns 23,105 shares of the company’s stock valued at $1,651,000 after acquiring an additional 16,813 shares during the last quarter. RWC Asset Management LLP purchased a new stake in Soleno Therapeutics during the 1st quarter worth about $308,000. Finally, TD Asset Management Inc raised its stake in Soleno Therapeutics by 23.9% in the 1st quarter. TD Asset Management Inc now owns 74,010 shares of the company’s stock valued at $5,288,000 after purchasing an additional 14,276 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors and hedge funds.

About Soleno Therapeutics

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.