Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Average Rating of “Buy” by Analysts

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have been given an average recommendation of “Buy” by the nine analysts that are covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $94.57.

Several research analysts have commented on the stock. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Stifel Nicolaus increased their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research note on Friday. Laidlaw lifted their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday. HC Wainwright reissued a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Finally, Cantor Fitzgerald boosted their price objective on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday.

Soleno Therapeutics Price Performance

Shares of SLNO opened at $71.99 on Monday. Soleno Therapeutics has a 1-year low of $36.61 and a 1-year high of $73.97. The company has a market capitalization of $3.30 billion, a P/E ratio of -21.68 and a beta of -1.70. The firm’s 50 day simple moving average is $48.94 and its 200 day simple moving average is $50.08.

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

Insider Activity

In related news, 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 transaction, the insider now directly owns 76,605 shares in the company, valued at $3,537,618.90. The trade was a 2.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bhatnagar Anish sold 10,937 shares of the stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,360 shares of company stock worth $790,119. 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 modified their holdings of SLNO. AlphaQuest LLC boosted its holdings in shares of 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 buying an additional 658 shares during the last quarter. US Bancorp DE purchased a new position in shares of Soleno Therapeutics during the 4th quarter worth $34,000. Avanza Fonder AB bought a new stake in shares of Soleno Therapeutics during the 4th quarter valued at $76,000. Springhill Fund Asset Management HK Co Ltd purchased a new stake in shares of Soleno Therapeutics in the 4th quarter worth $81,000. Finally, Avior Wealth Management LLC bought a new position in Soleno Therapeutics in the 4th quarter worth $89,000. 97.42% of the stock is owned by institutional investors.

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.