Brokerages Set Soleno Therapeutics, Inc. (NASDAQ:SLNO) Price Target at $67.14

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have received an average recommendation of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $67.14.

Several equities research analysts have recently commented on SLNO shares. HC Wainwright started coverage on Soleno Therapeutics in a report on Tuesday, September 3rd. They issued a “buy” rating and a $70.00 price objective for the company. Oppenheimer increased their price objective on Soleno Therapeutics from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 price objective on shares of Soleno Therapeutics in a report on Wednesday, July 31st.

Soleno Therapeutics Stock Up 6.5 %

NASDAQ:SLNO opened at $52.84 on Thursday. Soleno Therapeutics has a twelve month low of $3.96 and a twelve month high of $54.08. The business has a 50 day moving average price of $47.84 and a two-hundred day moving average price of $44.59. The company has a market cap of $2.05 billion, a P/E ratio of -19.72 and a beta of -1.46.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.06. As a group, analysts anticipate that Soleno Therapeutics will post -2.28 earnings per share for the current fiscal year.

Insider Activity at Soleno Therapeutics

In related news, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $48.73, for a total value of $24,365,000.00. Following the sale, the insider now owns 6,816,851 shares in the company, valued at approximately $332,185,149.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Soleno Therapeutics news, insider Kristen Yen sold 2,170 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $41.54, for a total transaction of $90,141.80. Following the transaction, the insider now owns 21,252 shares in the company, valued at approximately $882,808.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $48.73, for a total value of $24,365,000.00. Following the transaction, the insider now owns 6,816,851 shares in the company, valued at approximately $332,185,149.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 767,239 shares of company stock worth $36,744,548. Company insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Amalgamated Bank bought a new position in Soleno Therapeutics during the 2nd quarter worth $31,000. Victory Capital Management Inc. grew its holdings in shares of Soleno Therapeutics by 26.3% during the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after purchasing an additional 2,236 shares in the last quarter. Cannon Global Investment Management LLC acquired a new stake in shares of Soleno Therapeutics during the 1st quarter worth $505,000. Sei Investments Co. grew its holdings in shares of Soleno Therapeutics by 22.0% during the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock worth $538,000 after purchasing an additional 2,264 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of Soleno Therapeutics by 33.8% during the 1st quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock worth $590,000 after purchasing an additional 3,481 shares in the last quarter. Institutional investors own 97.42% of the company’s stock.

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.