HC Wainwright Issues Positive Forecast for Soleno Therapeutics (NASDAQ:SLNO) Stock Price

Soleno Therapeutics (NASDAQ:SLNO) had its target price lifted by equities research analysts at HC Wainwright from $70.00 to $100.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 38.91% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday. Stifel Nicolaus raised their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a report on Friday. Cantor Fitzgerald lifted their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday. Laidlaw upped their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Guggenheim reaffirmed a “buy” rating and set a $81.00 target price (up previously from $70.00) on shares of Soleno Therapeutics in a research note on Friday. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $98.86.

Soleno Therapeutics Stock Up 6.8 %

Soleno Therapeutics stock opened at $71.99 on Monday. The stock has a market cap of $3.30 billion, a P/E ratio of -21.68 and a beta of -1.70. Soleno Therapeutics has a twelve month low of $36.61 and a twelve month high of $73.97. The company’s 50-day moving average price is $48.94 and its two-hundred day moving average price is $50.08.

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). Equities analysts anticipate that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 10,937 shares of the business’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 transaction of $496,649.17. Following the completion of the sale, the chief executive officer now directly owns 708,616 shares of the company’s stock, valued at approximately $32,178,252.56. The trade was a 1.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James H. Mackaness sold 4,083 shares of the firm’s 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 $185,409.03. Following the completion of the transaction, the chief financial officer now owns 115,089 shares in the company, valued at $5,226,191.49. This represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,360 shares of company stock worth $790,119 in the last quarter. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Soleno Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Corebridge Financial Inc. increased its position in shares of Soleno Therapeutics by 2.9% during the fourth quarter. Corebridge Financial Inc. now owns 12,720 shares of the company’s stock valued at $572,000 after acquiring an additional 357 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of Soleno Therapeutics by 24.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company’s stock valued at $120,000 after purchasing an additional 522 shares during the last quarter. AlphaQuest LLC raised its stake in shares of Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock worth $32,000 after purchasing an additional 658 shares during the period. US Bancorp DE bought a new stake in shares of Soleno Therapeutics during the 4th quarter worth $34,000. Finally, Alliancebernstein L.P. boosted its holdings in shares of Soleno Therapeutics by 3.5% in the 4th quarter. Alliancebernstein L.P. now owns 23,810 shares of the company’s stock worth $1,070,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

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.