Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Average Recommendation of "Buy" by Analysts

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) has been given a consensus recommendation of "Buy" by the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $69.86.

A number of analysts have issued reports on SLNO shares. Oppenheimer boosted their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the company an "outperform" rating in a research report on Monday. Cantor Fitzgerald restated an "overweight" rating and set a $67.00 target price on shares of Soleno Therapeutics in a report on Friday, September 20th. Stifel Nicolaus boosted their price target on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. Finally, HC Wainwright assumed coverage on shares of Soleno Therapeutics in a report on Tuesday, September 3rd. They set a "buy" rating and a $70.00 target price on the stock.

Soleno Therapeutics Stock Up 1.5 %

Shares of Soleno Therapeutics stock traded up $0.82 during mid-day trading on Friday, hitting $55.88. The stock had a trading volume of 362,397 shares, compared to its average volume of 465,482. Soleno Therapeutics has a 12-month low of $21.30 and a 12-month high of $57.28. The firm has a 50-day moving average of $50.94 and a two-hundred day moving average of $46.66. The firm has a market cap of $2.17 billion, a P/E ratio of -22.93 and a beta of -1.45.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, beating analysts' consensus estimates of ($0.63) by $0.06. Sell-side analysts expect that Soleno Therapeutics will post -2.29 earnings per share for the current year.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, insider Kristen Yen sold 3,108 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $153,628.44. Following the transaction, the insider now owns 81,465 shares of the company's stock, valued at $4,026,814.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Bhatnagar Anish sold 21,633 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $1,069,319.19. Following the completion of the sale, the chief executive officer now owns 719,553 shares in the company, valued at $35,567,504.79. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kristen Yen sold 3,108 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $153,628.44. Following the completion of the transaction, the insider now directly owns 81,465 shares in the company, valued at $4,026,814.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 771,441 shares of company stock valued at $37,178,033 in the last ninety days. Insiders own 12.30% of the company's stock.

Institutional Trading of Soleno Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank purchased a new position in Soleno Therapeutics during the second quarter worth $31,000. Victory Capital Management Inc. boosted its holdings in Soleno Therapeutics by 26.3% in the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company's stock valued at $438,000 after acquiring an additional 2,236 shares during the last quarter. Sei Investments Co. grew its position in Soleno Therapeutics by 22.0% during the first quarter. Sei Investments Co. now owns 12,577 shares of the company's stock valued at $538,000 after acquiring an additional 2,264 shares during the period. SG Americas Securities LLC acquired a new stake in Soleno Therapeutics during the second quarter worth about $569,000. Finally, California State Teachers Retirement System raised its holdings in shares of Soleno Therapeutics by 33.8% in the 1st quarter. California State Teachers Retirement System now owns 13,780 shares of the company's stock worth $590,000 after purchasing an additional 3,481 shares during the period. Institutional investors and hedge funds 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.