Soleno Therapeutics (NASDAQ:SLNO) Price Target Raised to $73.00 at Oppenheimer

Soleno Therapeutics (NASDAQ:SLNO) had its price objective hoisted by Oppenheimer from $65.00 to $73.00 in a research note released on Monday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other analysts have also issued research reports about the stock. HC Wainwright initiated coverage on shares of Soleno Therapeutics in a research report on Tuesday, September 3rd. They set a “buy” rating and a $70.00 price target on the stock. Stifel Nicolaus raised their price target on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $67.00 price target on shares of Soleno Therapeutics in a research report on Friday, September 20th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $69.86.

Soleno Therapeutics Trading Down 1.2 %

NASDAQ SLNO opened at $55.06 on Monday. The company has a fifty day simple moving average of $50.94 and a two-hundred day simple moving average of $46.66. The stock has a market cap of $1.84 billion, a P/E ratio of -20.54 and a beta of -1.45. Soleno Therapeutics has a 12-month low of $21.30 and a 12-month high of $57.28.

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

Insider Transactions at Soleno Therapeutics

In other news, insider Kristen Yen sold 3,108 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $153,628.44. Following the completion of the sale, the insider now owns 81,465 shares in the company, valued at approximately $4,026,814.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Soleno Therapeutics news, CFO James H. Mackaness sold 6,661 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $47.58, for a total value of $316,930.38. Following the transaction, the chief financial officer now directly owns 134,119 shares of the company’s stock, valued at approximately $6,381,382.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kristen Yen sold 3,108 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $153,628.44. Following the transaction, the insider now directly owns 81,465 shares in the company, valued at approximately $4,026,814.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 771,441 shares of company stock worth $37,178,033. 12.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Soleno Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank purchased a new position in Soleno Therapeutics during the 2nd quarter valued at about $31,000. Victory Capital Management Inc. increased its holdings in Soleno Therapeutics by 26.3% during the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock valued at $438,000 after acquiring an additional 2,236 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Soleno Therapeutics by 22.0% during the first quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock worth $538,000 after buying an additional 2,264 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Soleno Therapeutics during the second quarter worth about $569,000. Finally, California State Teachers Retirement System grew its holdings in shares of Soleno Therapeutics by 33.8% during the first quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock worth $590,000 after buying an additional 3,481 shares in the last quarter. 97.42% of the stock is currently owned by hedge funds and other 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.