Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives Average Rating of “Buy” from Analysts

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have earned an average rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $74.83.

Several analysts have recently weighed in on SLNO shares. Oppenheimer boosted their price target on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Robert W. Baird restated an “outperform” rating and issued a $72.00 price target on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $74.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $70.00 price target on shares of Soleno Therapeutics in a research report on Monday, December 2nd.

Insiders Place Their Bets

In related news, insider Kristen Yen sold 2,340 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $46.18, for a total value of $108,061.20. Following the completion of the sale, the insider now directly owns 76,605 shares of the company’s stock, valued at $3,537,618.90. The trade was a 2.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Bhatnagar Anish sold 10,937 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $496,649.17. Following the sale, the chief executive officer now owns 708,616 shares of the company’s stock, valued at approximately $32,178,252.56. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,360 shares of company stock worth $790,119. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Soleno Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank acquired a new position in shares of Soleno Therapeutics during the second quarter valued at about $31,000. Avanza Fonder AB bought a new position in Soleno Therapeutics in the 4th quarter valued at about $76,000. Avior Wealth Management LLC acquired a new position in Soleno Therapeutics during the 4th quarter valued at about $89,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Soleno Therapeutics during the 3rd quarter worth approximately $155,000. Finally, Curi RMB Capital LLC purchased a new position in shares of Soleno Therapeutics during the third quarter valued at approximately $202,000. Institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Price Performance

Shares of NASDAQ:SLNO opened at $49.17 on Wednesday. The firm has a 50 day simple moving average of $48.78 and a 200 day simple moving average of $49.59. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -14.81 and a beta of -1.47. Soleno Therapeutics has a one year low of $36.61 and a one year high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($1.22). As a group, analysts expect that Soleno Therapeutics will post -3.72 EPS for the current year.

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.