Soleno Therapeutics (NASDAQ:SLNO) Announces Earnings Results

Soleno Therapeutics (NASDAQ:SLNO) posted its quarterly earnings results on Wednesday. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41), Zacks reports.

Soleno Therapeutics Trading Up 1.2 %

NASDAQ SLNO opened at $44.99 on Thursday. Soleno Therapeutics has a 12-month low of $36.61 and a 12-month high of $60.92. The firm’s fifty day simple moving average is $47.20 and its two-hundred day simple moving average is $49.86. The firm has a market capitalization of $1.94 billion, a P/E ratio of -13.55 and a beta of -1.46.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Stifel Nicolaus assumed coverage on Soleno Therapeutics in a research note on Wednesday. They issued a “buy” rating and a $74.00 price objective on the stock. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. HC Wainwright restated a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a report on Monday. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $72.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $71.20.

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, CFO James H. Mackaness sold 4,083 shares of the firm’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 transaction of $185,409.03. Following the completion of the transaction, the chief financial officer now directly owns 115,089 shares of the company’s stock, valued at approximately $5,226,191.49. This trade represents a 3.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Bhatnagar Anish sold 10,937 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total transaction 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. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,360 shares of company stock valued at $790,119 in the last quarter. 12.30% of the stock is currently owned by corporate insiders.

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.