Soleno Therapeutics (NASDAQ:SLNO) Price Target Raised to $123.00 at Cantor Fitzgerald

Soleno Therapeutics (NASDAQ:SLNO) had its price target increased by Cantor Fitzgerald from $67.00 to $123.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

SLNO has been the topic of a number of other research reports. Robert W. Baird boosted their price objective on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday. HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Stifel Nicolaus started coverage on shares of Soleno Therapeutics in a report on Wednesday, March 5th. They set a “buy” rating and a $74.00 price objective on the stock. Finally, Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $91.17.

Soleno Therapeutics Stock Up 37.6 %

Shares of SLNO stock opened at $67.39 on Thursday. The company has a market capitalization of $3.09 billion, a P/E ratio of -20.30 and a beta of -1.70. Soleno Therapeutics has a 12-month low of $36.61 and a 12-month high of $72.96. The firm has a 50-day moving average price of $48.44 and a 200 day moving average price of $49.90.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). As a group, research analysts expect that Soleno Therapeutics will post -3.72 earnings per share for the current year.

Insiders Place Their Bets

In other Soleno Therapeutics news, insider Kristen Yen sold 2,340 shares of Soleno Therapeutics stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the sale, the insider now owns 76,605 shares of the company’s stock, valued at approximately $3,537,618.90. The trade was a 2.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bhatnagar Anish sold 10,937 shares of the 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 transaction, the chief executive officer now directly owns 708,616 shares in the company, valued at approximately $32,178,252.56. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,360 shares of company stock valued at $790,119. 12.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Soleno Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLNO. Wellington Management Group LLP increased its stake in shares of Soleno Therapeutics by 14.5% in the 4th quarter. Wellington Management Group LLP now owns 782,265 shares of the company’s stock valued at $35,163,000 after acquiring an additional 99,095 shares during the last quarter. California State Teachers Retirement System grew its holdings in Soleno Therapeutics by 23.6% during the fourth quarter. California State Teachers Retirement System now owns 21,977 shares of the company’s stock valued at $988,000 after purchasing an additional 4,201 shares during the period. Polar Asset Management Partners Inc. increased its stake in Soleno Therapeutics by 296.8% in the fourth quarter. Polar Asset Management Partners Inc. now owns 125,400 shares of the company’s stock valued at $5,637,000 after purchasing an additional 93,800 shares in the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new stake in Soleno Therapeutics in the fourth quarter worth $13,451,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Soleno Therapeutics by 24.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,504 shares of the company’s stock worth $1,236,000 after purchasing an additional 5,462 shares in the last quarter. 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.