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

Soleno Therapeutics, Inc. (NASDAQ:SLNO) has been given an average recommendation of “Buy” by the seven analysts that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $74.83.

A number of equities research analysts have recently issued reports on SLNO shares. Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a research note on Friday, September 20th. Oppenheimer raised their target price 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. Stifel Nicolaus restated a “buy” rating and issued a $74.00 price target on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Finally, HC Wainwright reiterated a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd.

Soleno Therapeutics Trading Down 0.0 %

NASDAQ:SLNO opened at $45.18 on Friday. The stock has a 50 day moving average of $52.93 and a two-hundred day moving average of $49.08. Soleno Therapeutics has a 12 month low of $35.70 and a 12 month high of $60.92. The firm has a market cap of $1.95 billion, a P/E ratio of -13.61 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). On average, research analysts forecast that Soleno Therapeutics will post -3.7 earnings per share for the current year.

Insider Activity

In related news, insider Kristen Yen sold 3,108 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were 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 in the company, valued at approximately $4,026,814.95. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James H. Mackaness sold 8,077 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $399,246.11. Following the completion of the transaction, the chief financial officer now directly owns 119,172 shares in the company, valued at $5,890,671.96. The trade was a 6.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,818 shares of company stock valued at $1,622,194 in the last 90 days. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Soleno Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Amalgamated Bank acquired a new position in Soleno Therapeutics during the second quarter worth $31,000. Victory Capital Management Inc. raised its holdings in shares of Soleno Therapeutics by 26.3% in the 2nd 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. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Soleno Therapeutics during the 3rd quarter worth about $155,000. The Manufacturers Life Insurance Company lifted its stake in Soleno Therapeutics by 6.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 52,634 shares of the company’s stock worth $2,657,000 after acquiring an additional 3,226 shares in the last quarter. Finally, Curi RMB Capital LLC purchased a new position in Soleno Therapeutics during the 3rd quarter valued at about $202,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

About Soleno Therapeutics

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.