Soleno Therapeutics (NASDAQ:SLNO) Given New $105.00 Price Target at Laidlaw

Soleno Therapeutics (NASDAQ:SLNO) had its price target hoisted by equities researchers at Laidlaw from $75.00 to $105.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Laidlaw’s price target indicates a potential upside of 53.76% from the stock’s previous close.

A number of other equities analysts have also weighed in on SLNO. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Stifel Nicolaus assumed coverage on Soleno Therapeutics in a research note on Wednesday, March 5th. They issued a “buy” rating and a $74.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Robert W. Baird lifted their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Cantor Fitzgerald upped their price target on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Soleno Therapeutics presently has a consensus rating of “Buy” and an average price target of $91.17.

Soleno Therapeutics Price Performance

Shares of NASDAQ:SLNO traded up $19.32 during midday trading on Thursday, hitting $68.29. The company had a trading volume of 11,050,888 shares, compared to its average volume of 590,398. Soleno Therapeutics has a 12-month low of $36.61 and a 12-month high of $72.82. The company has a fifty day moving average of $48.01 and a two-hundred day moving average of $49.78. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -20.57 and a beta of -1.70.

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

Insider Activity

In other Soleno Therapeutics news, CFO James H. Mackaness sold 4,083 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $185,409.03. Following the transaction, the chief financial officer now directly owns 115,089 shares in the company, valued at $5,226,191.49. This represents a 3.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kristen Yen sold 2,340 shares of Soleno Therapeutics stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total transaction of $108,061.20. Following the sale, the insider now directly owns 76,605 shares of the company’s stock, valued at $3,537,618.90. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,360 shares of company stock valued at $790,119. 12.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC raised its stake in Soleno Therapeutics by 27.1% in the fourth quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock worth $233,130,000 after buying an additional 1,107,166 shares in the last quarter. FMR LLC grew its position in shares of Soleno Therapeutics by 6,048,754.5% in the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after buying an additional 665,363 shares during the last quarter. Nantahala Capital Management LLC raised its stake in shares of Soleno Therapeutics by 20.1% during the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock worth $176,607,000 after acquiring an additional 658,518 shares in the last quarter. Avoro Capital Advisors LLC lifted its position in Soleno Therapeutics by 15.8% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock valued at $113,499,000 after acquiring an additional 344,000 shares during the last quarter. Finally, Vestal Point Capital LP boosted its stake in Soleno Therapeutics by 47.2% in the fourth quarter. Vestal Point Capital LP now owns 1,060,000 shares of the company’s stock valued at $47,647,000 after acquiring an additional 340,000 shares in the last quarter. 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.