Laidlaw Increases Soleno Therapeutics (NASDAQ:SLNO) Price Target to $105.00

Soleno Therapeutics (NASDAQ:SLNO) had its price target boosted by Laidlaw from $75.00 to $105.00 in a report published on Thursday morning, Marketbeat reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Stifel Nicolaus started coverage on shares of Soleno Therapeutics in a research report on Wednesday, March 5th. They set a “buy” rating and a $74.00 price target for the company. Cantor Fitzgerald increased their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Robert W. Baird lifted their price objective on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Soleno Therapeutics has an average rating of “Buy” and an average target price of $94.57.

Soleno Therapeutics Trading Up 6.8 %

Soleno Therapeutics stock opened at $71.99 on Thursday. The firm has a 50 day simple moving average of $48.94 and a 200 day simple moving average of $50.07. Soleno Therapeutics has a 1-year low of $36.61 and a 1-year 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.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.41). On average, equities research analysts forecast that Soleno Therapeutics will post -3.72 EPS for the current year.

Insider Buying and Selling

In other news, CEO Bhatnagar Anish sold 10,937 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 708,616 shares in the company, valued at approximately $32,178,252.56. The trade was 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, CFO James H. Mackaness sold 4,083 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 transaction of $185,409.03. Following the transaction, the chief financial officer now directly owns 115,089 shares in the company, valued at approximately $5,226,191.49. This represents a 3.43 % decrease in their position. 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. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of Soleno Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of Soleno Therapeutics by 14.5% in the fourth quarter. Wellington Management Group LLP now owns 782,265 shares of the company’s stock worth $35,163,000 after buying an additional 99,095 shares during the period. California State Teachers Retirement System grew its position in Soleno Therapeutics by 23.6% during the 4th quarter. California State Teachers Retirement System now owns 21,977 shares of the company’s stock worth $988,000 after acquiring an additional 4,201 shares during the last quarter. Polar Asset Management Partners Inc. increased its stake in Soleno Therapeutics by 296.8% in the 4th quarter. Polar Asset Management Partners Inc. now owns 125,400 shares of the company’s stock worth $5,637,000 after purchasing an additional 93,800 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new stake in Soleno Therapeutics in the fourth quarter valued at approximately $13,451,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Soleno Therapeutics by 24.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,504 shares of the company’s stock valued at $1,236,000 after purchasing an additional 5,462 shares during the period. 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.