Soleno Therapeutics (NASDAQ:SLNO) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Soleno Therapeutics (NASDAQ:SLNO) had its price objective hoisted by equities research analysts at Cantor Fitzgerald from $67.00 to $123.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 70.86% from the company’s current price.

Other analysts have also issued reports about the stock. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Stifel Nicolaus assumed coverage on shares of Soleno Therapeutics in a research report on Wednesday, March 5th. They issued a “buy” rating and a $74.00 price objective for the company. Robert W. Baird raised their target price on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a research note on Monday, March 3rd. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $94.57.

Soleno Therapeutics Price Performance

Shares of NASDAQ:SLNO opened at $71.99 on Thursday. The firm has a market capitalization of $3.30 billion, a PE ratio of -21.68 and a beta of -1.70. The business has a 50 day simple moving average of $48.94 and a two-hundred day simple moving average of $50.06. Soleno Therapeutics has a 1 year low of $36.61 and a 1 year high of $73.97.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results 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). Equities research analysts expect that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insider Transactions at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 10,937 shares of Soleno Therapeutics stock in a transaction 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 in the company, valued at approximately $32,178,252.56. This trade represents a 1.52 % decrease in their position. The sale 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 the company’s 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 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. In the last quarter, insiders sold 17,360 shares of company stock valued at $790,119. Company insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. AlphaQuest LLC boosted its stake in Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after acquiring an additional 658 shares in the last quarter. US Bancorp DE purchased a new stake in shares of Soleno Therapeutics during the 4th quarter valued at $34,000. Avanza Fonder AB purchased a new stake in shares of Soleno Therapeutics during the 4th quarter valued at $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in shares of Soleno Therapeutics in the 4th quarter worth $81,000. Finally, Avior Wealth Management LLC purchased a new position in Soleno Therapeutics during the 4th quarter worth $89,000. 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.