Robert W. Baird Increases Soleno Therapeutics (NASDAQ:SLNO) Price Target to $102.00

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) had its target price lifted by research analysts at Robert W. Baird from $72.00 to $102.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's price objective would suggest a potential upside of 42.58% from the stock's previous close.

Several other equities analysts have also recently weighed in on SLNO. Stifel Nicolaus assumed coverage on Soleno Therapeutics in a report on Wednesday, March 5th. They set a "buy" rating and a $74.00 price target on the stock. Lifesci Capital raised Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. Finally, HC Wainwright reissued a "buy" rating and issued a $70.00 target price on shares of Soleno Therapeutics in a research report on Monday, March 3rd. 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.com, the stock currently has a consensus rating of "Buy" and an average target price of $98.86.

Soleno Therapeutics Trading Down 0.6 %

NASDAQ:SLNO traded down $0.45 during mid-day trading on Thursday, reaching $71.54. The company's stock had a trading volume of 1,576,664 shares, compared to its average volume of 640,149. The stock has a market cap of $3.28 billion, a P/E ratio of -21.47 and a beta of -1.70. The firm's fifty day moving average price is $48.94 and its two-hundred day moving average price is $50.08. Soleno Therapeutics has a 12-month low of $36.61 and a 12-month high of $73.97.

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Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced 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). Analysts predict that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Insider Activity at Soleno Therapeutics

In related news, insider Kristen Yen sold 2,340 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total value of $108,061.20. Following the completion of the sale, the insider now directly owns 76,605 shares of the company's stock, valued at approximately $3,537,618.90. This represents a 2.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Bhatnagar Anish sold 10,937 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total transaction of $496,649.17. Following the transaction, the chief executive officer now directly owns 708,616 shares in the company, valued at $32,178,252.56. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,360 shares of company stock worth $790,119. Corporate insiders own 12.30% of the company's stock.

Institutional Investors Weigh In On Soleno Therapeutics

A number of institutional investors have recently bought and sold shares of SLNO. Janus Henderson Group PLC boosted 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 worth $233,130,000 after acquiring an additional 1,107,166 shares during the period. FMR LLC lifted its holdings in Soleno Therapeutics by 6,048,754.5% in the 3rd quarter. FMR LLC now owns 665,374 shares of the company's stock worth $33,595,000 after purchasing an additional 665,363 shares in the last quarter. Nantahala Capital Management LLC boosted its stake 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 purchasing an additional 658,518 shares during the period. Avoro Capital Advisors LLC grew its holdings in Soleno Therapeutics by 15.8% during the 4th 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 in the last quarter. Finally, Vestal Point Capital LP grew its holdings in Soleno Therapeutics by 47.2% during the 4th quarter. Vestal Point Capital LP now owns 1,060,000 shares of the company's stock valued at $47,647,000 after buying an additional 340,000 shares in the last quarter. Hedge funds and other institutional investors 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.