Soleno Therapeutics (NASDAQ:SLNO) Price Target Raised to $102.00

Soleno Therapeutics (NASDAQ:SLNO) had its target price hoisted by research analysts at Robert W. Baird from $72.00 to $102.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 108.29% from the company’s current price.

SLNO has been the subject of several other research reports. Stifel Nicolaus assumed coverage on shares of Soleno Therapeutics in a report on Wednesday, March 5th. They issued a “buy” rating and a $74.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a report on Monday, March 3rd. Finally, Lifesci Capital raised 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $88.40.

Soleno Therapeutics Price Performance

Shares of NASDAQ SLNO opened at $48.97 on Thursday. The business has a 50-day moving average of $48.01 and a two-hundred day moving average of $49.78. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -14.75 and a beta of -1.70. Soleno Therapeutics has a 1 year low of $36.61 and a 1 year high of $68.78.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.41). As a group, equities research analysts expect that Soleno Therapeutics will post -3.72 earnings per share for the current year.

Insider Activity

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 10,937 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kristen Yen sold 2,340 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the sale, the insider now owns 76,605 shares of the company’s stock, valued at $3,537,618.90. This trade represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,360 shares of company stock valued at $790,119. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SLNO. AlphaQuest LLC boosted its holdings in Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares in the last quarter. US Bancorp DE acquired a new stake in shares of Soleno Therapeutics in the 4th quarter valued at approximately $34,000. Avanza Fonder AB purchased a new stake in shares of Soleno Therapeutics in the fourth quarter valued at approximately $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in Soleno Therapeutics during the fourth quarter worth $81,000. Finally, Avior Wealth Management LLC purchased a new position in Soleno Therapeutics in the fourth quarter worth $89,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

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.