Soleno Therapeutics (NASDAQ:SLNO) Price Target Raised to $97.00

Soleno Therapeutics (NASDAQ:SLNO) had its price objective boosted by research analysts at Guggenheim from $81.00 to $97.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price target would indicate a potential upside of 26.35% from the stock’s current price.

Several other research firms have also recently weighed in on SLNO. HC Wainwright reiterated a “buy” rating and set a $100.00 price objective on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. Laidlaw lifted their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Robert W. Baird increased their target price on shares of Soleno Therapeutics from $102.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Piper Sandler increased their price target on Soleno Therapeutics from $93.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Soleno Therapeutics currently has an average rating of “Buy” and an average target price of $106.78.

Soleno Therapeutics Stock Up 0.7 %

NASDAQ:SLNO opened at $76.77 on Thursday. Soleno Therapeutics has a twelve month low of $36.93 and a twelve month high of $80.99. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of -23.12 and a beta of -2.67. The stock’s 50 day moving average price is $63.25 and its two-hundred day moving average price is $54.35.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.19. As a group, analysts anticipate that Soleno Therapeutics will post -3.72 earnings per share for the current year.

Insider Buying and Selling

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,782 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total value of $265,156.02. Following the sale, the insider now owns 27,036 shares in the company, valued at $1,895,493.96. This trade represents a 12.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Matthew Pauls sold 5,937 shares of the company’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $71.55, for a total transaction of $424,792.35. Following the transaction, the director now owns 6,500 shares of the company’s stock, valued at $465,075. This trade represents a 47.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 942,672 shares of company stock worth $64,058,781 in the last ninety days. 12.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Soleno Therapeutics

Large investors have recently bought and sold shares of the company. Legal & General Group Plc increased its stake in shares of Soleno Therapeutics by 9.2% in the fourth quarter. Legal & General Group Plc now owns 23,471 shares of the company’s stock valued at $1,055,000 after buying an additional 1,983 shares during the period. Barclays PLC increased its position in Soleno Therapeutics by 149.3% in the 3rd quarter. Barclays PLC now owns 52,545 shares of the company’s stock valued at $2,652,000 after acquiring an additional 31,467 shares during the period. Emerald Advisers LLC raised its stake in shares of Soleno Therapeutics by 85.4% during the fourth quarter. Emerald Advisers LLC now owns 580,919 shares of the company’s stock valued at $26,112,000 after acquiring an additional 267,585 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Soleno Therapeutics by 13.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company’s stock worth $9,779,000 after purchasing an additional 24,953 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Soleno Therapeutics by 47.0% in the fourth quarter. Sei Investments Co. now owns 16,444 shares of the company’s stock worth $739,000 after purchasing an additional 5,258 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors.

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.