Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $74.83 Consensus PT from Brokerages

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) have been given an average recommendation of "Buy" by the seven analysts that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $74.83.

A number of analysts have issued reports on the company. Oppenheimer raised their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the company an "outperform" rating in a report on Monday, October 28th. Stifel Nicolaus reaffirmed a "buy" rating and set a $74.00 target price on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Robert W. Baird reiterated an "outperform" rating and set a $72.00 target price on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Cantor Fitzgerald restated an "overweight" rating and issued a $67.00 price target on shares of Soleno Therapeutics in a research report on Friday, September 20th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd.

Insider Buying and Selling at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 10,937 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $496,649.17. Following the sale, the chief executive officer now directly owns 708,616 shares in the company, valued at approximately $32,178,252.56. This represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO James H. Mackaness sold 4,083 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $185,409.03. Following the completion of the transaction, the chief financial officer now directly owns 115,089 shares of the company's stock, valued at approximately $5,226,191.49. The trade was a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,360 shares of company stock valued at $790,119 in the last 90 days. 12.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Soleno Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in SLNO. Amalgamated Bank acquired a new stake in shares of Soleno Therapeutics during the 2nd quarter worth about $31,000. Harbor Capital Advisors Inc. boosted its position in Soleno Therapeutics by 3.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 37,296 shares of the company's stock valued at $1,676,000 after buying an additional 1,248 shares in the last quarter. Avanza Fonder AB bought a new stake in Soleno Therapeutics during the fourth quarter worth about $76,000. Victory Capital Management Inc. increased its holdings in shares of Soleno Therapeutics by 26.3% during the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company's stock worth $438,000 after buying an additional 2,236 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Soleno Therapeutics in the third quarter valued at approximately $155,000. Institutional investors and hedge funds own 97.42% of the company's stock.

Soleno Therapeutics Stock Up 14.2 %

Shares of SLNO traded up $6.03 during midday trading on Wednesday, reaching $48.57. 931,631 shares of the stock were exchanged, compared to its average volume of 505,603. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -14.63 and a beta of -1.47. The firm has a 50 day simple moving average of $49.45 and a 200-day simple moving average of $49.42. Soleno Therapeutics has a 12-month low of $36.61 and a 12-month high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.61) by ($1.22). Research analysts expect that Soleno Therapeutics will post -3.7 earnings per share for the current fiscal year.

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.