Soleno Therapeutics (NASDAQ:SLNO) Stock Price Expected to Rise, HC Wainwright Analyst Says

Soleno Therapeutics (NASDAQ:SLNO) had its price objective raised by stock analysts at HC Wainwright from $70.00 to $100.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 46.50% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Stifel Nicolaus raised their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a report on Friday, March 28th. Cantor Fitzgerald raised their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Guggenheim reissued a “buy” rating and issued a $81.00 price target (up previously from $70.00) on shares of Soleno Therapeutics in a research note on Friday. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Laidlaw upped their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $98.86.

Soleno Therapeutics Stock Down 4.5 %

Shares of NASDAQ SLNO opened at $68.26 on Monday. The business has a 50-day simple moving average of $49.82 and a two-hundred day simple moving average of $50.34. Soleno Therapeutics has a 52 week low of $36.61 and a 52 week high of $73.97. The company has a market cap of $3.13 billion, a P/E ratio of -20.56 and a beta of -1.70.

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

Insider Activity

In other Soleno Therapeutics news, insider Kristen Yen sold 2,340 shares of Soleno Therapeutics stock in a transaction that occurred 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 transaction, the insider now directly owns 76,605 shares of the company’s stock, valued at $3,537,618.90. The trade was a 2.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patricia C. Hirano sold 128,653 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $68.32, for a total value of $8,789,572.96. Following the sale, the insider now directly owns 55,789 shares of the company’s stock, valued at approximately $3,811,504.48. This trade represents a 69.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 956,250 shares of company stock valued at $64,583,745. Corporate insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Soleno Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. AlphaQuest LLC increased its holdings in Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares during the period. US Bancorp DE purchased a new position in shares of Soleno Therapeutics during the fourth quarter valued at approximately $34,000. Avanza Fonder AB bought a new position in shares of Soleno Therapeutics during the fourth quarter valued at approximately $76,000. Springhill Fund Asset Management HK Co Ltd bought a new position in shares of Soleno Therapeutics during the fourth quarter valued at approximately $81,000. Finally, Avior Wealth Management LLC purchased a new stake in Soleno Therapeutics in the fourth quarter worth $89,000. 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.