Robert W. Baird Increases Soleno Therapeutics (NASDAQ:SLNO) Price Target to $102.00

Soleno Therapeutics (NASDAQ:SLNO) had its target price lifted by equities researchers at Robert W. Baird from $72.00 to $102.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 41.69% from the stock’s current price.

A number of other research firms have also recently weighed in on SLNO. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Stifel Nicolaus initiated coverage on shares of Soleno Therapeutics in a research report on Wednesday, March 5th. They set a “buy” rating and a $74.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $94.57.

Soleno Therapeutics Trading Up 6.8 %

Shares of NASDAQ SLNO opened at $71.99 on Thursday. Soleno Therapeutics has a 12-month low of $36.61 and a 12-month high of $73.97. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -21.68 and a beta of -1.70. The firm has a 50 day moving average of $48.94 and a 200 day moving average of $50.06.

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

Insiders Place Their Bets

In other Soleno Therapeutics news, CFO James H. Mackaness sold 4,083 shares of Soleno Therapeutics 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 $185,409.03. Following the sale, the chief financial officer now owns 115,089 shares of the company’s stock, valued at $5,226,191.49. The trade was a 3.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 value of $496,649.17. Following the transaction, the chief executive officer now owns 708,616 shares of the company’s stock, 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 in the last 90 days. 12.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Soleno Therapeutics

Large investors have recently bought and sold shares of the business. Corebridge Financial Inc. grew its stake in shares of Soleno Therapeutics by 2.9% in the 4th quarter. Corebridge Financial Inc. now owns 12,720 shares of the company’s stock worth $572,000 after buying an additional 357 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Soleno Therapeutics by 24.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company’s stock valued at $120,000 after acquiring an additional 522 shares during the last quarter. AlphaQuest LLC grew its position in Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock worth $32,000 after acquiring an additional 658 shares in the last quarter. US Bancorp DE bought a new stake in Soleno Therapeutics during the fourth quarter worth approximately $34,000. Finally, Alliancebernstein L.P. increased its stake in Soleno Therapeutics by 3.5% during the fourth quarter. Alliancebernstein L.P. now owns 23,810 shares of the company’s stock worth $1,070,000 after acquiring an additional 800 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.

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.