Soleno Therapeutics (NASDAQ:SLNO) Price Target Raised to $108.00

Soleno Therapeutics (NASDAQ:SLNO - Free Report) had its price target lifted by Stifel Nicolaus from $74.00 to $108.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on SLNO. Cantor Fitzgerald raised their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. HC Wainwright reaffirmed a "buy" rating and set a $70.00 price target on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Laidlaw boosted their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Lifesci Capital upgraded shares of Soleno Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 4th. Finally, Guggenheim restated a "buy" rating and set a $81.00 price objective (up from $70.00) on shares of Soleno Therapeutics in a research note on Friday. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Soleno Therapeutics currently has an average rating of "Buy" and a consensus price target of $98.86.

Soleno Therapeutics Stock Performance

NASDAQ SLNO traded down $2.46 on Friday, reaching $68.99. The company had a trading volume of 676,213 shares, compared to its average volume of 649,855. The company's fifty day moving average is $49.44 and its 200-day moving average is $50.23. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -20.88 and a beta of -1.70. Soleno Therapeutics has a 1-year low of $36.61 and a 1-year high of $73.97.

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

Insider Activity

In other news, insider Kristen Yen sold 2,340 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the transaction, the insider now owns 76,605 shares in the company, valued at approximately $3,537,618.90. This trade represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bhatnagar Anish sold 10,937 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $496,649.17. Following the completion of the sale, the chief executive officer now owns 708,616 shares of the company's stock, valued at $32,178,252.56. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 956,250 shares of company stock valued at $64,583,745 over the last ninety days. 12.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Soleno Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC grew its stake 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 in the last quarter. Nantahala Capital Management LLC boosted 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 valued at $176,607,000 after purchasing an additional 658,518 shares during the period. Avoro Capital Advisors LLC grew its position in shares of Soleno Therapeutics by 15.8% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company's stock worth $113,499,000 after purchasing an additional 344,000 shares in the last quarter. Vanguard Group Inc. increased 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 worth $84,710,000 after purchasing an additional 303,806 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of 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 valued at $73,301,000 after buying an additional 321,223 shares in the last quarter. 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.