Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives Average Rating of "Buy" from Analysts

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) have received a consensus recommendation of "Buy" from the seven research firms that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $74.83.

Several analysts have recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the stock a "buy" rating in a research report on Tuesday, October 1st. Cantor Fitzgerald reissued an "overweight" rating and issued a $67.00 price target on shares of Soleno Therapeutics in a research report on Friday, September 20th. Oppenheimer raised their price objective on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. Finally, HC Wainwright reissued a "buy" rating and issued a $70.00 target price on shares of Soleno Therapeutics in a report on Monday, November 11th.

Insider Activity

In other Soleno Therapeutics news, major shareholder Vivo Opportunity, Llc sold 100,000 shares of the company's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $47.22, for a total transaction of $4,722,000.00. Following the completion of the sale, the insider now directly owns 6,291,851 shares of the company's stock, valued at $297,101,204.22. This represents a 1.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bhatnagar Anish sold 21,633 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $1,069,319.19. Following the completion of the transaction, the chief executive officer now owns 719,553 shares in the company, valued at $35,567,504.79. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,362 shares of company stock valued at $9,605,517. Insiders own 12.30% of the company's stock.

Hedge Funds Weigh In On Soleno Therapeutics

Institutional investors have recently bought and sold shares of the company. Amalgamated Bank acquired a new position in shares of Soleno Therapeutics during the second quarter worth about $31,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Soleno Therapeutics in the 3rd quarter valued at approximately $155,000. Curi RMB Capital LLC acquired a new position in Soleno Therapeutics during the 3rd quarter worth approximately $202,000. Intech Investment Management LLC purchased a new position in shares of Soleno Therapeutics during the 3rd quarter worth approximately $262,000. Finally, Fred Alger Management LLC acquired a new stake in shares of Soleno Therapeutics in the 3rd quarter valued at approximately $310,000. 97.42% of the stock is owned by institutional investors and hedge funds.

Soleno Therapeutics Trading Up 2.0 %

Shares of SLNO stock traded up $1.12 on Tuesday, reaching $58.34. 1,528,640 shares of the stock were exchanged, compared to its average volume of 475,636. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of -17.57 and a beta of -1.44. The business's 50 day moving average price is $53.38 and its 200 day moving average price is $48.43. Soleno Therapeutics has a twelve month low of $26.38 and a twelve month high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($1.22). Equities research analysts forecast that Soleno Therapeutics will post -3.76 earnings per share for the current year.

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.