HC Wainwright Reiterates Buy Rating for Soleno Therapeutics (NASDAQ:SLNO)

HC Wainwright reaffirmed their buy rating on shares of Soleno Therapeutics (NASDAQ:SLNO - Free Report) in a report released on Tuesday morning,Benzinga reports. They currently have a $100.00 price objective on the stock.

Several other research firms have also recently issued reports on SLNO. Stifel Nicolaus increased their target price on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Robert W. Baird increased their price objective on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an "outperform" rating in a research report on Thursday, March 27th. Guggenheim restated a "buy" rating and set a $81.00 target price (up from $70.00) on shares of Soleno Therapeutics in a research report on Friday, March 28th. UBS Group set a $105.00 price target on Soleno Therapeutics in a report on Thursday, March 27th. Finally, Cantor Fitzgerald boosted their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Soleno Therapeutics has an average rating of "Buy" and a consensus target price of $99.63.

Soleno Therapeutics Stock Up 0.1 %

SLNO traded up $0.05 during trading hours on Tuesday, hitting $69.98. The stock had a trading volume of 1,236,195 shares, compared to its average volume of 725,088. The stock has a market cap of $3.21 billion, a PE ratio of -21.08 and a beta of -2.29. Soleno Therapeutics has a 1 year low of $36.93 and a 1 year high of $74.00. The company's fifty day simple moving average is $55.17 and its 200 day simple moving average is $52.09.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.41). As a group, equities analysts expect that Soleno Therapeutics will post -3.72 EPS for the current year.

Insiders Place Their Bets

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,782 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were 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 of the company's stock, valued at $1,895,493.96. The trade was a 12.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Bhatnagar Anish sold 699,095 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 577,076 shares in the company, valued at $39,021,879.12. This trade represents a 54.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 942,672 shares of company stock valued at $64,058,781. 12.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC increased its position in shares of Soleno Therapeutics by 27.1% in the fourth quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company's stock valued at $233,130,000 after acquiring an additional 1,107,166 shares during the period. Nantahala Capital Management LLC lifted its holdings in Soleno Therapeutics by 20.1% in the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company's stock worth $176,607,000 after buying an additional 658,518 shares during the period. Avoro Capital Advisors LLC increased its stake in shares of Soleno Therapeutics by 15.8% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company's stock valued at $113,499,000 after buying an additional 344,000 shares during the period. Vanguard Group Inc. raised its holdings in shares of Soleno Therapeutics by 19.2% during the fourth quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company's stock valued at $84,710,000 after acquiring an additional 303,806 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Soleno Therapeutics by 24.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company's stock worth $73,301,000 after acquiring an additional 321,223 shares during the period. 97.42% of the stock is owned by hedge funds and other 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.