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

Soleno Therapeutics (NASDAQ:SLNO) had its price target boosted by equities research analysts at Laidlaw from $75.00 to $105.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Laidlaw’s target price points to a potential upside of 53.76% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald lifted their price target on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday. Stifel Nicolaus initiated coverage on shares of Soleno Therapeutics in a research note on Wednesday, March 5th. They issued a “buy” rating and a $74.00 target price on the stock. Robert W. Baird increased their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $91.17.

Soleno Therapeutics Stock Performance

SLNO traded up $19.32 during midday trading on Thursday, hitting $68.29. The stock had a trading volume of 11,050,888 shares, compared to its average volume of 590,398. The company has a market cap of $3.13 billion, a P/E ratio of -20.57 and a beta of -1.70. Soleno Therapeutics has a 1 year low of $36.61 and a 1 year high of $72.82. The business has a fifty day moving average of $48.01 and a 200 day moving average of $49.78.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly 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). On average, equities research analysts anticipate that Soleno Therapeutics will post -3.72 earnings per share for the current year.

Insider Activity at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 10,937 shares of the company’s 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 $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. This represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kristen Yen sold 2,340 shares of Soleno Therapeutics stock in a transaction on 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 approximately $3,537,618.90. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,360 shares of company stock valued at $790,119. 12.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Soleno Therapeutics

Several large investors have recently bought and sold shares of SLNO. Wellington Management Group LLP raised its holdings in shares of Soleno Therapeutics by 14.5% during the fourth quarter. Wellington Management Group LLP now owns 782,265 shares of the company’s stock valued at $35,163,000 after purchasing an additional 99,095 shares during the last quarter. California State Teachers Retirement System grew its position in Soleno Therapeutics by 23.6% in the 4th quarter. California State Teachers Retirement System now owns 21,977 shares of the company’s stock worth $988,000 after purchasing an additional 4,201 shares during the period. Polar Asset Management Partners Inc. raised its stake in Soleno Therapeutics by 296.8% during the 4th quarter. Polar Asset Management Partners Inc. now owns 125,400 shares of the company’s stock valued at $5,637,000 after buying an additional 93,800 shares during the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in shares of Soleno Therapeutics during the 4th quarter valued at $13,451,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Soleno Therapeutics by 24.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,504 shares of the company’s stock worth $1,236,000 after buying an additional 5,462 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors.

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.