Soleno Therapeutics (NASDAQ:SLNO) Price Target Raised to $108.00

Soleno Therapeutics (NASDAQ:SLNO) had its price target increased by Stifel Nicolaus from $74.00 to $108.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. Cantor Fitzgerald raised their price objective on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” 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. Robert W. Baird upped their price target on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday. Guggenheim reissued a “buy” rating and set a $81.00 price objective (up from $70.00) on shares of Soleno Therapeutics in a research note on Friday. Finally, HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Soleno Therapeutics in a report on Monday, March 3rd. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $94.57.

Soleno Therapeutics Price Performance

Shares of NASDAQ:SLNO opened at $71.99 on Friday. The stock’s 50 day moving average price is $48.94 and its 200 day moving average price is $50.08. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -21.68 and a beta of -1.70. Soleno Therapeutics has a 12 month low of $36.61 and a 12 month high of $73.97.

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

Insider Transactions at Soleno Therapeutics

In other news, insider Kristen Yen sold 2,340 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were 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 of the company’s stock, valued at $3,537,618.90. This represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James H. Mackaness sold 4,083 shares of the business’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 transaction 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. The trade was a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,360 shares of company stock valued at $790,119 over the last quarter. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Soleno Therapeutics

A number of hedge funds have recently modified their holdings of SLNO. Corebridge Financial Inc. grew its stake in Soleno Therapeutics by 2.9% in the fourth quarter. Corebridge Financial Inc. now owns 12,720 shares of the company’s stock valued at $572,000 after purchasing an additional 357 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings 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 buying an additional 522 shares during the last quarter. AlphaQuest LLC grew its stake in shares of 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 buying an additional 658 shares in the last quarter. US Bancorp DE acquired a new position in Soleno Therapeutics in the fourth quarter worth approximately $34,000. Finally, Alliancebernstein L.P. raised its position in Soleno Therapeutics by 3.5% during the fourth quarter. Alliancebernstein L.P. now owns 23,810 shares of the company’s stock valued at $1,070,000 after acquiring an additional 800 shares in the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.

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.