Soleno Therapeutics (NASDAQ:SLNO) Given Buy Rating at HC Wainwright

Soleno Therapeutics (NASDAQ:SLNO)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $100.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 43.00% from the company’s current price.

Several other analysts have also weighed in on the company. Stifel Nicolaus raised their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Laidlaw raised their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Guggenheim restated a “buy” rating and set a $81.00 target price (up previously from $70.00) on shares of Soleno Therapeutics in a research report on Friday, March 28th. Robert W. Baird increased their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, March 27th. Finally, Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $99.63.

Soleno Therapeutics Trading Down 0.5 %

SLNO stock opened at $69.93 on Tuesday. The company’s 50-day moving average price is $54.36 and its 200 day moving average price is $51.80. Soleno Therapeutics has a 52 week low of $36.61 and a 52 week high of $74.00. The company has a market cap of $3.21 billion, a P/E ratio of -21.06 and a beta of -2.29.

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

Insiders Place Their Bets

In related news, CEO Bhatnagar Anish sold 699,095 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the transaction, the chief executive officer now directly owns 577,076 shares in the company, valued at approximately $39,021,879.12. This represents a 54.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Patricia C. Hirano sold 3,782 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total value of $265,156.02. Following the completion of the sale, the insider now directly owns 27,036 shares in the company, valued at approximately $1,895,493.96. The trade was a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 942,672 shares of company stock valued at $64,058,781. Company insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SLNO. Barclays PLC grew its holdings in Soleno Therapeutics by 149.3% in the third quarter. Barclays PLC now owns 52,545 shares of the company’s stock valued at $2,652,000 after purchasing an additional 31,467 shares during the period. Emerald Advisers LLC grew its stake in shares of Soleno Therapeutics by 85.4% during the 4th quarter. Emerald Advisers LLC now owns 580,919 shares of the company’s stock valued at $26,112,000 after buying an additional 267,585 shares during the period. State Street Corp increased its holdings in shares of Soleno Therapeutics by 14.2% during the 3rd quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after buying an additional 142,033 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Soleno Therapeutics by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company’s stock worth $9,779,000 after buying an additional 24,953 shares during the period. Finally, Sei Investments Co. boosted its holdings in Soleno Therapeutics by 47.0% in the fourth quarter. Sei Investments Co. now owns 16,444 shares of the company’s stock valued at $739,000 after acquiring an additional 5,258 shares during the last quarter. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

About Soleno Therapeutics

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.