Soleno Therapeutics, Inc. (NASDAQ:SLNO – Get Free Report)’s stock price gapped up prior to trading on Monday after Oppenheimer raised their price target on the stock from $59.00 to $65.00. The stock had previously closed at $45.91, but opened at $47.06. Oppenheimer currently has an outperform rating on the stock. Soleno Therapeutics shares last traded at $46.23, with a volume of 25,662 shares.
A number of other research firms also recently issued reports on SLNO. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 price target on shares of Soleno Therapeutics in a research report on Wednesday, July 31st. Robert W. Baird initiated coverage on shares of Soleno Therapeutics in a report on Friday, May 10th. They set an “outperform” rating and a $72.00 price objective on the stock. Finally, Baird R W upgraded Soleno Therapeutics to a “strong-buy” rating in a report on Friday, May 10th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $66.67.
Read Our Latest Report on Soleno Therapeutics
Insider Buying and Selling at Soleno Therapeutics
Hedge Funds Weigh In On Soleno Therapeutics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLNO. Amalgamated Bank purchased a new position in Soleno Therapeutics in the 2nd quarter valued at $31,000. Victory Capital Management Inc. boosted its holdings in shares of Soleno Therapeutics by 26.3% during the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after purchasing an additional 2,236 shares during the last quarter. Cannon Global Investment Management LLC purchased a new stake in shares of Soleno Therapeutics in the first quarter valued at approximately $505,000. Sei Investments Co. increased its holdings in shares of Soleno Therapeutics by 22.0% in the first quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock valued at $538,000 after purchasing an additional 2,264 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in 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 owned by hedge funds and other institutional investors.
Soleno Therapeutics Price Performance
The company has a market cap of $1.55 billion, a price-to-earnings ratio of -17.31 and a beta of -1.39. The stock has a 50 day simple moving average of $44.61 and a two-hundred day simple moving average of $44.36.
Soleno Therapeutics (NASDAQ:SLNO – Get Free Report) last posted 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, research analysts forecast that Soleno Therapeutics, Inc. will post -2.36 EPS for the current year.
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.
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