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

Soleno Therapeutics (NASDAQ:SLNO) had its target price raised by analysts at Robert W. Baird from $72.00 to $102.00 in a report released 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 41.69% from the company’s current price.

SLNO has been the topic of a number of other research reports. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price target on shares of Soleno Therapeutics in a research note on Monday, March 3rd. Finally, 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 for the company. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $94.57.

Soleno Therapeutics Trading Up 6.8 %

SLNO stock opened at $71.99 on Thursday. The stock has a market cap of $3.30 billion, a PE ratio of -21.68 and a beta of -1.70. Soleno Therapeutics has a 12 month low of $36.61 and a 12 month high of $73.97. The company has a 50-day moving average price of $48.94 and a 200 day moving average price of $50.06.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.41). Sell-side analysts forecast that Soleno Therapeutics will post -3.72 EPS for the current year.

Insider Activity

In other news, insider Kristen Yen sold 2,340 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James H. Mackaness sold 4,083 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $185,409.03. Following the completion of the sale, the chief financial officer now directly owns 115,089 shares of the company’s stock, valued at $5,226,191.49. The trade was a 3.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,360 shares of company stock worth $790,119. 12.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Soleno Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AlphaQuest LLC increased its holdings in shares of Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after acquiring an additional 658 shares in the last quarter. US Bancorp DE purchased a new stake in Soleno Therapeutics during the 4th quarter worth approximately $34,000. Avanza Fonder AB acquired a new position in Soleno Therapeutics during the 4th quarter valued at approximately $76,000. Springhill Fund Asset Management HK Co Ltd purchased a new position in shares of Soleno Therapeutics in the fourth quarter worth $81,000. Finally, Avior Wealth Management LLC acquired a new stake in shares of Soleno Therapeutics during the fourth quarter worth $89,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

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.