Brokerages Set Soleno Therapeutics, Inc. (NASDAQ:SLNO) PT at $74.83

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have earned a consensus recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $74.83.

A number of brokerages recently weighed in on SLNO. Robert W. Baird reissued an “outperform” rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Oppenheimer increased their price target on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $74.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd.

Insider Transactions at Soleno Therapeutics

In related news, 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 sale, the chief executive officer now directly owns 708,616 shares in the company, valued at $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 is available at this link. 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 transaction of $108,061.20. Following the transaction, the insider now owns 76,605 shares of the company’s stock, valued at approximately $3,537,618.90. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,360 shares of company stock worth $790,119 in the last quarter. 12.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Soleno Therapeutics

A number of hedge funds have recently modified their holdings of the business. Rhumbline Advisers bought a new stake in shares of Soleno Therapeutics during the second quarter worth $1,189,000. Victory Capital Management Inc. grew its holdings in shares of Soleno Therapeutics by 26.3% during the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after buying an additional 2,236 shares in the last quarter. Sofinnova Investments Inc. lifted its stake in Soleno Therapeutics by 267.7% in the 2nd quarter. Sofinnova Investments Inc. now owns 554,359 shares of the company’s stock valued at $22,618,000 after acquiring an additional 403,584 shares in the last quarter. Amalgamated Bank bought a new position in shares of Soleno Therapeutics during the 2nd quarter worth approximately $31,000. Finally, Avoro Capital Advisors LLC raised its holdings in shares of Soleno Therapeutics by 28.7% in the second quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company’s stock valued at $85,340,000 after purchasing an additional 466,666 shares during the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Soleno Therapeutics Stock Performance

Shares of SLNO stock opened at $46.88 on Wednesday. Soleno Therapeutics has a 1 year low of $36.61 and a 1 year high of $60.92. The business’s fifty day moving average is $49.03 and its 200-day moving average is $49.55. The stock has a market cap of $2.02 billion, a PE ratio of -14.12 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). Equities research analysts predict that Soleno Therapeutics will post -3.72 earnings per share for the current year.

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.