Stifel Nicolaus Initiates Coverage on Soleno Therapeutics (NASDAQ:SLNO)

Investment analysts at Stifel Nicolaus began coverage on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research note issued on Wednesday. The firm set a “buy” rating and a $74.00 price target on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 65.42% from the stock’s current price.

Other research analysts have also issued research reports about the company. HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a report on Monday. Robert W. Baird reiterated an “outperform” rating and issued a $72.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Finally, Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Soleno Therapeutics has an average rating of “Buy” and an average price target of $71.20.

Soleno Therapeutics Stock Up 0.7 %

Shares of SLNO stock traded up $0.30 during mid-day trading on Wednesday, hitting $44.74. 19,828 shares of the stock were exchanged, compared to its average volume of 443,524. Soleno Therapeutics has a 52-week low of $36.61 and a 52-week high of $60.92. The company has a market cap of $1.93 billion, a PE ratio of -13.59 and a beta of -1.46. The firm has a fifty day moving average of $47.19 and a 200 day moving average of $49.89.

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

Insider Activity

In related news, CEO Bhatnagar Anish sold 10,937 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $496,649.17. Following the completion of the sale, the chief executive officer now directly owns 708,616 shares of the company’s stock, valued at $32,178,252.56. This represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James H. Mackaness sold 4,083 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $185,409.03. Following the transaction, the chief financial officer now directly owns 115,089 shares in the company, valued at approximately $5,226,191.49. This trade represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,360 shares of company stock worth $790,119. 12.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Soleno Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new position in shares of Soleno Therapeutics during the 3rd quarter valued at $1,820,000. Victory Capital Management Inc. lifted its holdings in shares of Soleno Therapeutics by 25.9% in the 3rd quarter. Victory Capital Management Inc. now owns 13,509 shares of the company’s stock worth $682,000 after purchasing an additional 2,782 shares during the last quarter. Curi RMB Capital LLC bought a new stake in shares of Soleno Therapeutics in the 3rd quarter worth approximately $202,000. Intech Investment Management LLC bought a new position in Soleno Therapeutics during the 3rd quarter worth $262,000. Finally, HealthInvest Partners AB bought a new position in shares of Soleno Therapeutics during the third quarter worth about $1,332,000. Institutional investors and hedge funds 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.