Cantor Fitzgerald Issues Positive Forecast for Soleno Therapeutics (NASDAQ:SLNO) Stock Price

Soleno Therapeutics (NASDAQ:SLNO) had its target price boosted by Cantor Fitzgerald from $67.00 to $123.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also issued reports on SLNO. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Robert W. Baird upped their target price on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday. HC Wainwright restated a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Finally, Stifel Nicolaus assumed coverage on Soleno Therapeutics in a research note on Wednesday, March 5th. They set a “buy” rating and a $74.00 price target for the company. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $94.57.

Soleno Therapeutics Stock Performance

Shares of SLNO stock opened at $71.99 on Thursday. The company has a market capitalization of $3.30 billion, a PE ratio of -21.68 and a beta of -1.70. Soleno Therapeutics has a 52-week low of $36.61 and a 52-week high of $73.97. The business’s fifty day moving average is $48.94 and its 200 day moving average is $50.07.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.41). On average, sell-side analysts forecast that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics news, insider Kristen Yen sold 2,340 shares of Soleno Therapeutics stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total value of $108,061.20. Following the transaction, the insider now directly owns 76,605 shares of the company’s stock, valued at $3,537,618.90. The trade was a 2.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bhatnagar Anish sold 10,937 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $496,649.17. Following the sale, the chief executive officer now directly owns 708,616 shares of the company’s stock, valued at approximately $32,178,252.56. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,360 shares of company stock worth $790,119 over the last three months. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Soleno Therapeutics

Hedge funds have recently modified their holdings of the company. AlphaQuest LLC increased its stake in shares of Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after buying an additional 658 shares during the period. US Bancorp DE bought a new stake in Soleno Therapeutics in the fourth quarter valued at $34,000. Avanza Fonder AB purchased a new position in Soleno Therapeutics during the 4th quarter valued at $76,000. Springhill Fund Asset Management HK Co Ltd bought a new position in Soleno Therapeutics in the 4th quarter worth $81,000. Finally, Avior Wealth Management LLC purchased a new stake in shares of Soleno Therapeutics in the 4th quarter worth about $89,000. Hedge funds and other 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.