Robert W. Baird Reaffirms Outperform Rating for Soleno Therapeutics (NASDAQ:SLNO)

Soleno Therapeutics (NASDAQ:SLNO)‘s stock had its “outperform” rating restated by research analysts at Robert W. Baird in a research note issued on Monday, MarketBeat reports. They presently have a $72.00 price objective on the stock. Robert W. Baird’s price target would indicate a potential upside of 40.73% from the company’s previous close.

Several other research firms have also commented on SLNO. Stifel Nicolaus boosted their price target on Soleno Therapeutics from $59.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. HC Wainwright restated a “buy” rating and issued a $70.00 price target on shares of Soleno Therapeutics in a report on Monday, November 11th. Oppenheimer boosted their price objective on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a research note on Friday, September 20th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $74.83.

Soleno Therapeutics Trading Up 2.3 %

Shares of SLNO stock opened at $51.16 on Monday. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -15.41 and a beta of -1.47. Soleno Therapeutics has a twelve month low of $27.27 and a twelve month high of $60.92. The stock has a fifty day simple moving average of $53.63 and a two-hundred day simple moving average of $48.73.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data 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 predict that Soleno Therapeutics will post -3.76 EPS for the current fiscal year.

Insider Activity at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 21,633 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kristen Yen sold 3,108 shares of Soleno Therapeutics stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $153,628.44. Following the sale, the insider now directly owns 81,465 shares of the company’s stock, valued at approximately $4,026,814.95. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,818 shares of company stock valued at $1,622,194 in the last three months. 12.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Soleno Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of SLNO. Janus Henderson Group PLC lifted its stake in Soleno Therapeutics by 21.5% during the 3rd quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company’s stock valued at $206,016,000 after acquiring an additional 722,226 shares during the period. Perceptive Advisors LLC raised its holdings in shares of Soleno Therapeutics by 4.2% during the second quarter. Perceptive Advisors LLC now owns 3,204,976 shares of the company’s stock worth $130,763,000 after purchasing an additional 130,434 shares during the last quarter. Nantahala Capital Management LLC lifted its position in Soleno Therapeutics by 27.9% during the second quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock valued at $125,750,000 after purchasing an additional 671,728 shares during the period. Avoro Capital Advisors LLC boosted its holdings in Soleno Therapeutics by 28.7% in the second quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company’s stock valued at $85,340,000 after purchasing an additional 466,666 shares during the last quarter. Finally, State Street Corp grew its position in Soleno Therapeutics by 14.2% during the 3rd quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after purchasing an additional 142,033 shares during the period. 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.