Stifel Nicolaus Forecasts Strong Price Appreciation for Soleno Therapeutics (NASDAQ:SLNO) Stock

Soleno Therapeutics (NASDAQ:SLNO) had its price target upped by Stifel Nicolaus from $74.00 to $108.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird upped their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 target price on shares of Soleno Therapeutics in a report on Monday, March 3rd. Cantor Fitzgerald lifted their price target on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday. Guggenheim restated a “buy” rating and issued a $81.00 price objective (up previously from $70.00) on shares of Soleno Therapeutics in a research note on Friday. Finally, Laidlaw boosted their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $94.57.

Soleno Therapeutics Stock Performance

SLNO opened at $71.99 on Friday. The firm has a market cap of $3.30 billion, a P/E ratio of -21.68 and a beta of -1.70. The business has a 50 day moving average price of $48.94 and a 200 day moving average price of $50.08. Soleno Therapeutics has a twelve month low of $36.61 and a twelve month high of $73.97.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). As a group, analysts anticipate that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Insider Activity at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 10,937 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 in the company, valued at approximately $32,178,252.56. This represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO James H. Mackaness sold 4,083 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $185,409.03. Following the transaction, the chief financial officer now owns 115,089 shares of the company’s stock, valued at $5,226,191.49. This trade represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,360 shares of company stock worth $790,119. 12.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Soleno Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of Soleno Therapeutics by 14.5% during the fourth quarter. Wellington Management Group LLP now owns 782,265 shares of the company’s stock worth $35,163,000 after buying an additional 99,095 shares in the last quarter. California State Teachers Retirement System increased its holdings in Soleno Therapeutics by 23.6% during the 4th quarter. California State Teachers Retirement System now owns 21,977 shares of the company’s stock valued at $988,000 after purchasing an additional 4,201 shares in the last quarter. Polar Asset Management Partners Inc. increased its holdings in Soleno Therapeutics by 296.8% during the 4th quarter. Polar Asset Management Partners Inc. now owns 125,400 shares of the company’s stock valued at $5,637,000 after purchasing an additional 93,800 shares in the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in Soleno Therapeutics in the 4th quarter valued at $13,451,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Soleno Therapeutics by 24.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,504 shares of the company’s stock worth $1,236,000 after purchasing an additional 5,462 shares in the last quarter. 97.42% of the stock is currently owned by institutional investors and hedge funds.

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.