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

Soleno Therapeutics (NASDAQ:SLNO) had its target price hoisted by Laidlaw from $75.00 to $105.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also commented on the company. Cantor Fitzgerald upped their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Stifel Nicolaus initiated coverage on shares of Soleno Therapeutics in a report on Wednesday, March 5th. They set a “buy” rating and a $74.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price target on shares of Soleno Therapeutics in a report on Monday, March 3rd. Finally, 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. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $91.17.

Soleno Therapeutics Trading Up 37.6 %

NASDAQ:SLNO opened at $67.39 on Thursday. The company’s 50 day moving average is $48.44 and its two-hundred day moving average is $49.90. The company has a market cap of $3.09 billion, a PE ratio of -20.30 and a beta of -1.70. Soleno Therapeutics has a twelve month low of $36.61 and a twelve month high of $72.96.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). As a group, analysts expect that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insider Buying and Selling

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 10,937 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $496,649.17. Following the transaction, the chief executive officer now owns 708,616 shares in the company, valued at approximately $32,178,252.56. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kristen Yen sold 2,340 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were 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 owns 76,605 shares of the company’s stock, valued at $3,537,618.90. This trade represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,360 shares of company stock valued at $790,119. Corporate insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Soleno Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in Soleno Therapeutics by 25.9% in the 3rd quarter. Victory Capital Management Inc. now owns 13,509 shares of the company’s stock valued at $682,000 after buying an additional 2,782 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Soleno Therapeutics during the third quarter valued at approximately $262,000. Charles Schwab Investment Management Inc. lifted its position in shares of Soleno Therapeutics by 208.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 192,597 shares of the company’s stock valued at $9,724,000 after acquiring an additional 130,080 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Soleno Therapeutics by 6.5% in the third quarter. The Manufacturers Life Insurance Company now owns 52,634 shares of the company’s stock worth $2,657,000 after acquiring an additional 3,226 shares during the last quarter. Finally, FMR LLC increased its position in shares of Soleno Therapeutics by 6,048,754.5% during the third quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after purchasing an additional 665,363 shares in the last quarter. 97.42% of the stock is owned by hedge funds and other 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.