Soleno Therapeutics (NASDAQ:SLNO) Price Target Raised to $105.00

Soleno Therapeutics (NASDAQ:SLNO) had its price target upped by stock analysts at Laidlaw from $75.00 to $105.00 in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Laidlaw’s price objective points to a potential upside of 45.85% from the company’s current price.

A number of other analysts have also commented on the company. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Cantor Fitzgerald upped their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday. Stifel Nicolaus assumed coverage on shares of Soleno Therapeutics in a research report on Wednesday, March 5th. They set a “buy” rating and a $74.00 price objective for the company. Robert W. Baird upped their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Seven 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.com, the stock currently has an average rating of “Buy” and an average target price of $94.57.

Soleno Therapeutics Stock Up 6.8 %

Shares of Soleno Therapeutics stock opened at $71.99 on Thursday. The business has a fifty day simple moving average of $48.94 and a 200 day simple moving average of $50.06. 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.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly 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). Analysts expect that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insider Activity

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 10,937 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $496,649.17. Following the transaction, the chief executive officer now owns 708,616 shares in the company, valued at approximately $32,178,252.56. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kristen Yen sold 2,340 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total value of $108,061.20. Following the completion of the transaction, the insider now owns 76,605 shares in the company, valued at approximately $3,537,618.90. This represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,360 shares of company stock valued at $790,119. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in Soleno Therapeutics by 14.5% during 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 in the last quarter. California State Teachers Retirement System raised its holdings in shares of Soleno Therapeutics by 23.6% in 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 last quarter. Polar Asset Management Partners Inc. lifted its position in shares of Soleno Therapeutics by 296.8% during 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. purchased a new position in Soleno Therapeutics during the fourth quarter worth about $13,451,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 during the last quarter. 97.42% of the stock is owned by 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.