Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $74.83 Consensus Target Price from Brokerages

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have been assigned an average rating of “Buy” from the seven ratings firms that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $74.83.

A number of analysts recently weighed in on SLNO shares. HC Wainwright restated a “buy” rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 target price on shares of Soleno Therapeutics in a research report on Friday, September 20th. Stifel Nicolaus restated a “buy” rating and set a $74.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Robert W. Baird reiterated an “outperform” rating and set a $72.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Finally, Oppenheimer upped their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, October 28th.

Soleno Therapeutics Stock Down 0.5 %

SLNO stock opened at $44.94 on Friday. The company’s 50-day moving average price is $52.75 and its two-hundred day moving average price is $49.17. Soleno Therapeutics has a 12 month low of $35.70 and a 12 month high of $60.92. The firm has a market cap of $1.94 billion, a P/E ratio of -13.54 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). Equities analysts predict that Soleno Therapeutics will post -3.7 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Soleno Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC grew its stake in shares of Soleno Therapeutics by 21.5% in the third quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company’s stock worth $206,016,000 after purchasing an additional 722,226 shares during the last quarter. Perceptive Advisors LLC lifted its holdings in Soleno Therapeutics by 4.2% in the 2nd quarter. Perceptive Advisors LLC now owns 3,204,976 shares of the company’s stock worth $130,763,000 after buying an additional 130,434 shares during the period. Nantahala Capital Management LLC grew its position in shares of Soleno Therapeutics by 27.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock worth $125,750,000 after buying an additional 671,728 shares during the last quarter. Avoro Capital Advisors LLC increased its stake in shares of Soleno Therapeutics by 28.7% during the second quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company’s stock valued at $85,340,000 after buying an additional 466,666 shares during the period. Finally, State Street Corp increased its stake in shares of Soleno Therapeutics by 14.2% during the third quarter. State Street Corp now owns 1,142,169 shares of the company’s stock valued at $57,668,000 after buying an additional 142,033 shares during the period. 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.