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

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have received an average recommendation of “Buy” from the nine ratings firms that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $99.63.

A number of research analysts recently commented on the company. Cantor Fitzgerald increased 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, March 27th. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Robert W. Baird boosted their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, March 27th. UBS Group set a $105.00 price target on shares of Soleno Therapeutics in a research report on Thursday, March 27th. Finally, Guggenheim restated a “buy” rating and issued a $81.00 price objective (up from $70.00) on shares of Soleno Therapeutics in a report on Friday, March 28th.

Soleno Therapeutics Stock Down 6.5 %

NASDAQ:SLNO opened at $67.48 on Monday. The stock has a market cap of $3.09 billion, a P/E ratio of -20.33 and a beta of -2.29. The business’s 50-day moving average price is $51.19 and its two-hundred day moving average price is $50.75. Soleno Therapeutics has a twelve month low of $36.61 and a twelve month high of $74.00.

Soleno Therapeutics (NASDAQ:SLNO) last announced its 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). On average, equities research analysts expect that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 699,095 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $67.62, for a total value of $47,272,803.90. Following the sale, the chief executive officer now owns 577,076 shares of the company’s stock, valued at $39,021,879.12. This trade represents a 54.78 % 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, CFO James H. Mackaness sold 90,622 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $69.44, for a total transaction of $6,292,791.68. Following the completion of the transaction, the chief financial officer now owns 105,176 shares in the company, valued at $7,303,421.44. The trade was a 46.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 942,672 shares of company stock worth $64,058,781. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC increased its stake in shares of Soleno Therapeutics by 27.1% during the fourth quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock valued at $233,130,000 after buying an additional 1,107,166 shares during the period. Nantahala Capital Management LLC increased its position in Soleno Therapeutics by 20.1% during the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock valued at $176,607,000 after purchasing an additional 658,518 shares during the period. Avoro Capital Advisors LLC raised its holdings in Soleno Therapeutics by 15.8% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock worth $113,499,000 after purchasing an additional 344,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in Soleno Therapeutics by 19.2% in the 4th quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock worth $84,710,000 after purchasing an additional 303,806 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Soleno Therapeutics by 24.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company’s stock worth $73,301,000 after purchasing an additional 321,223 shares during the period. 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.