Soleno Therapeutics (NASDAQ:SLNO) Price Target Raised to $108.00

Soleno Therapeutics (NASDAQ:SLNO) had its price target upped by equities research analysts at Stifel Nicolaus from $74.00 to $108.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 50.02% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. 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 note on Thursday. Cantor Fitzgerald lifted their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a report on Monday, March 3rd. Finally, Guggenheim reissued a “buy” rating and issued a $81.00 target price (up previously from $70.00) on shares of Soleno Therapeutics in a report on Friday. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Soleno Therapeutics has a consensus rating of “Buy” and a consensus price target of $94.57.

Soleno Therapeutics Trading Up 6.8 %

Shares of NASDAQ:SLNO opened at $71.99 on Friday. The stock has a 50 day moving average of $48.94 and a 200 day moving average of $50.07. The company has a market cap of $3.30 billion, a PE ratio of -21.68 and a beta of -1.70. Soleno Therapeutics has a 12-month low of $36.61 and a 12-month high of $73.97.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results 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). Equities research analysts predict that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Bhatnagar Anish sold 10,937 shares of the business’s 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. The trade was a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kristen Yen sold 2,340 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total transaction of $108,061.20. Following the sale, the insider now directly owns 76,605 shares in the company, valued at approximately $3,537,618.90. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,360 shares of company stock valued at $790,119 in the last quarter. 12.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLNO. AlphaQuest LLC raised its position in Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares during the period. US Bancorp DE purchased a new stake in Soleno Therapeutics during the 4th quarter valued at $34,000. Avanza Fonder AB purchased a new stake in Soleno Therapeutics during the 4th quarter valued at $76,000. Springhill Fund Asset Management HK Co Ltd bought a new stake in Soleno Therapeutics in the fourth quarter worth $81,000. Finally, Avior Wealth Management LLC purchased a new position in Soleno Therapeutics during the fourth quarter worth $89,000. Hedge funds and other 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.