Soleno Therapeutics (NASDAQ:SLNO) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Soleno Therapeutics (NASDAQ:SLNO) had its price target lifted by equities researchers at Stifel Nicolaus from $74.00 to $108.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 53.51% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. HC Wainwright restated a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a report on Monday, March 3rd. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Guggenheim restated a “buy” rating and set a $81.00 price objective (up from $70.00) on shares of Soleno Therapeutics in a research report on Friday. Laidlaw increased their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Robert W. Baird increased their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Soleno Therapeutics presently has an average rating of “Buy” and a consensus price target of $94.57.

Soleno Therapeutics Trading Up 4.4 %

Shares of NASDAQ SLNO traded up $2.96 during midday trading on Friday, reaching $70.35. The company’s stock had a trading volume of 1,317,704 shares, compared to its average volume of 611,443. The stock has a 50 day simple moving average of $48.44 and a 200-day simple moving average of $49.90. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -21.28 and a beta of -1.70. Soleno Therapeutics has a fifty-two week low of $36.61 and a fifty-two week high of $72.96.

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

Insider Buying and Selling

In other news, insider Kristen Yen sold 2,340 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $46.18, for a total value of $108,061.20. Following the completion of the sale, the insider now directly owns 76,605 shares in the company, valued at $3,537,618.90. This trade represents a 2.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO James H. Mackaness sold 4,083 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 $185,409.03. Following the transaction, the chief financial officer now directly owns 115,089 shares in the company, valued at approximately $5,226,191.49. This trade represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,360 shares of company stock valued at $790,119 over the last quarter. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

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