Soleno Therapeutics (NASDAQ:SLNO) Given New $108.00 Price Target at Stifel Nicolaus

Soleno Therapeutics (NASDAQ:SLNO) had its price target lifted by Stifel Nicolaus from $74.00 to $108.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 53.51% from the company’s previous close.

Several other brokerages also recently commented on SLNO. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Laidlaw upped their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday. Cantor Fitzgerald lifted their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday. Robert W. Baird increased their price target on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday. 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. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Soleno Therapeutics currently has a consensus rating of “Buy” and an average price target of $94.57.

Soleno Therapeutics Price Performance

Shares of Soleno Therapeutics stock traded up $2.96 during trading on Friday, hitting $70.35. 1,317,704 shares of the company’s stock traded hands, compared to its average volume of 611,443. The company has a market cap of $3.23 billion, a PE ratio of -21.28 and a beta of -1.70. The firm’s fifty day moving average price is $48.44 and its 200 day moving average price is $49.90. Soleno Therapeutics has a twelve month low of $36.61 and a twelve month high of $72.96.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data 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 anticipate that Soleno Therapeutics will post -3.72 earnings per share for the current year.

Insider Activity at Soleno Therapeutics

In other news, insider Kristen Yen sold 2,340 shares of the 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 transaction, the insider now owns 76,605 shares of the company’s stock, valued at $3,537,618.90. This represents a 2.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Bhatnagar Anish sold 10,937 shares of the 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 completion of the sale, the chief executive officer now owns 708,616 shares in the company, valued at $32,178,252.56. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,360 shares of company stock worth $790,119 over the last 90 days. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Soleno Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC raised its holdings in Soleno Therapeutics by 6,048,754.5% during the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after buying an additional 665,363 shares during the period. Barclays PLC raised its holdings in shares of Soleno Therapeutics by 149.3% during the third quarter. Barclays PLC now owns 52,545 shares of the company’s stock worth $2,652,000 after acquiring an additional 31,467 shares during the period. Emerald Advisers LLC lifted its position in Soleno Therapeutics by 85.4% in the 4th quarter. Emerald Advisers LLC now owns 580,919 shares of the company’s stock valued at $26,112,000 after acquiring an additional 267,585 shares in the last quarter. State Street Corp boosted its stake in Soleno Therapeutics by 14.2% in the 3rd quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after purchasing an additional 142,033 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Soleno Therapeutics by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company’s stock worth $9,779,000 after purchasing an additional 24,953 shares during the period. 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.