Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $94.57 Consensus PT from Brokerages

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have been assigned an average recommendation of “Buy” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $98.86.

A number of equities research analysts have recently commented on SLNO shares. Robert W. Baird increased their price objective on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, March 27th. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Stifel Nicolaus increased their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, March 28th. HC Wainwright lifted their price target on Soleno Therapeutics from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Guggenheim reaffirmed a “buy” rating and set a $81.00 price objective (up from $70.00) on shares of Soleno Therapeutics in a research note on Friday, March 28th.

Soleno Therapeutics Stock Up 7.9 %

NASDAQ:SLNO opened at $73.67 on Monday. Soleno Therapeutics has a 52-week low of $36.61 and a 52-week high of $73.97. The firm has a market cap of $3.38 billion, a P/E ratio of -22.19 and a beta of -2.29. The business’s 50-day moving average price is $50.32 and its 200 day moving average price is $50.50.

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

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 699,095 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the transaction, the chief executive officer now directly owns 577,076 shares in the company, valued at $39,021,879.12. This trade represents a 54.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patricia C. Hirano sold 3,782 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total value of $265,156.02. Following the completion of the sale, the insider now directly owns 27,036 shares of the company’s stock, valued at $1,895,493.96. This represents a 12.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 945,012 shares of company stock valued at $64,166,842. 12.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its position in Soleno Therapeutics by 27.1% during the fourth quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock worth $233,130,000 after purchasing an additional 1,107,166 shares during the period. Nantahala Capital Management LLC boosted its holdings in shares of Soleno Therapeutics by 20.1% during the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock worth $176,607,000 after buying an additional 658,518 shares during the period. Avoro Capital Advisors LLC boosted its holdings in shares of Soleno Therapeutics by 15.8% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock worth $113,499,000 after buying an additional 344,000 shares during the period. Vanguard Group Inc. grew its stake in Soleno Therapeutics by 19.2% in the 4th quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock valued at $84,710,000 after buying an additional 303,806 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Soleno Therapeutics by 24.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company’s stock worth $73,301,000 after acquiring an additional 321,223 shares during the period. 97.42% of the stock is owned by institutional investors.

Soleno Therapeutics Company Profile

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.