Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $74.83 Consensus PT from Analysts

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have been given an average rating of “Buy” by the seven research firms that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $74.83.

SLNO has been the topic of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price target on shares of Soleno Therapeutics in a research report on Friday, September 20th. Stifel Nicolaus raised their target price on Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Oppenheimer boosted their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a report on Monday, November 11th.

Soleno Therapeutics Trading Down 4.3 %

SLNO stock opened at $55.84 on Tuesday. The firm has a 50 day simple moving average of $53.48 and a 200-day simple moving average of $48.54. The company has a market capitalization of $2.41 billion, a P/E ratio of -16.82 and a beta of -1.44. Soleno Therapeutics has a twelve month low of $26.38 and a twelve month high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($1.22). On average, research analysts predict that Soleno Therapeutics will post -3.76 EPS for the current year.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 21,633 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $1,069,319.19. Following the transaction, the chief executive officer now owns 719,553 shares in the company, valued at $35,567,504.79. This trade represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James H. Mackaness sold 8,077 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $399,246.11. Following the completion of the transaction, the chief financial officer now owns 119,172 shares in the company, valued at $5,890,671.96. The trade was a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,818 shares of company stock valued at $1,622,194. 12.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Soleno Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLNO. Amalgamated Bank acquired a new stake in shares of Soleno Therapeutics in the 2nd quarter valued at $31,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Soleno Therapeutics during the 3rd quarter worth about $155,000. Curi RMB Capital LLC bought a new position in Soleno Therapeutics during the 3rd quarter valued at about $202,000. Intech Investment Management LLC acquired a new position in Soleno Therapeutics in the third quarter valued at about $262,000. Finally, Fred Alger Management LLC acquired a new position in Soleno Therapeutics in the third quarter valued at about $310,000. 97.42% of the stock is currently 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.