Soleno Therapeutics (NASDAQ:SLNO) Given New $73.00 Price Target at Oppenheimer

Soleno Therapeutics (NASDAQ:SLNO) had its price target lifted by Oppenheimer from $65.00 to $73.00 in a research note released on Monday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

SLNO has been the subject of a number of other reports. Stifel Nicolaus lifted their price target on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. HC Wainwright assumed coverage on shares of Soleno Therapeutics in a report on Tuesday, September 3rd. They issued a “buy” rating and a $70.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a report on Friday, September 20th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $69.86.

Soleno Therapeutics Price Performance

Shares of NASDAQ SLNO opened at $55.72 on Monday. Soleno Therapeutics has a 1 year low of $21.30 and a 1 year high of $57.28. The stock has a market cap of $1.86 billion, a P/E ratio of -20.79 and a beta of -1.45. The firm has a 50-day moving average of $50.81 and a 200 day moving average of $46.60.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.06. Research analysts expect that Soleno Therapeutics will post -2.28 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $48.73, for a total transaction of $24,365,000.00. Following the completion of the transaction, the insider now directly owns 6,816,851 shares of the company’s stock, valued at $332,185,149.23. The trade was 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 at the SEC website. In related news, insider Kristen Yen sold 3,108 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 81,465 shares in the company, valued at approximately $4,026,814.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $48.73, for a total transaction of $24,365,000.00. Following the sale, the insider now owns 6,816,851 shares of the company’s stock, valued at $332,185,149.23. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 771,441 shares of company stock valued at $37,178,033 over the last three months. Insiders own 12.30% of the company’s stock.

Institutional Trading of Soleno Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Amalgamated Bank bought a new stake in Soleno Therapeutics during the second quarter valued at approximately $31,000. Victory Capital Management Inc. grew its position in Soleno Therapeutics by 26.3% during the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock valued at $438,000 after buying an additional 2,236 shares during the period. 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 buying an additional 2,264 shares during the period. California State Teachers Retirement System grew its position in Soleno Therapeutics by 33.8% during the first quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock valued at $590,000 after buying an additional 3,481 shares during the period. Finally, Swiss National Bank boosted its position in shares of Soleno Therapeutics by 32.0% in the first quarter. Swiss National Bank now owns 30,100 shares of the company’s stock worth $1,288,000 after purchasing an additional 7,300 shares during the period. 97.42% of the stock is currently owned by institutional investors.

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.