Soleno Therapeutics (NASDAQ:SLNO) Price Target Raised to $108.00

Soleno Therapeutics (NASDAQ:SLNO) had its price target hoisted by Stifel Nicolaus from $74.00 to $108.00 in a research note issued to investors on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other analysts have also weighed in on SLNO. Cantor Fitzgerald increased their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday. HC Wainwright reissued a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Laidlaw raised their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Guggenheim reissued a “buy” rating and issued a $81.00 target price (up from $70.00) on shares of Soleno Therapeutics in a research note on Friday. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Soleno Therapeutics presently has an average rating of “Buy” and a consensus target price of $94.57.

Soleno Therapeutics Stock Up 6.8 %

NASDAQ SLNO opened at $71.99 on Friday. The company has a 50-day simple moving average of $48.94 and a two-hundred day simple moving average of $50.06. Soleno Therapeutics has a 12-month low of $36.61 and a 12-month high of $73.97. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -21.68 and a beta of -1.70.

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

Insider Buying and Selling

In related 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 value of $108,061.20. Following the sale, the insider now directly owns 76,605 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. Also, CEO Bhatnagar Anish sold 10,937 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 708,616 shares of the company’s stock, 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. Insiders sold a total of 17,360 shares of company stock valued at $790,119 over the last three months. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. AlphaQuest LLC increased its stake 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 purchasing an additional 658 shares in the last quarter. US Bancorp DE bought a new position in Soleno Therapeutics during the 4th quarter valued at approximately $34,000. Avanza Fonder AB purchased a new position in Soleno Therapeutics during the fourth quarter valued at $76,000. Springhill Fund Asset Management HK Co Ltd bought a new stake in Soleno Therapeutics in the fourth quarter worth $81,000. Finally, Avior Wealth Management LLC purchased a new stake in shares of Soleno Therapeutics in the fourth quarter worth $89,000. 97.42% of the stock is 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.