Soleno Therapeutics (NASDAQ:SLNO) Price Target Raised to $123.00

Soleno Therapeutics (NASDAQ:SLNO) had its price objective raised by Cantor Fitzgerald from $67.00 to $123.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also issued reports on SLNO. 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 on the stock. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Robert W. Baird lifted their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research 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.com, the stock presently has an average rating of “Buy” and an average price target of $94.57.

Soleno Therapeutics Stock Performance

Soleno Therapeutics stock opened at $71.99 on Thursday. The firm has a 50 day moving average price of $48.94 and a two-hundred day moving average price of $50.07. Soleno Therapeutics has a 52-week low of $36.61 and a 52-week high of $73.97. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -21.68 and a beta of -1.70.

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

Insider Transactions at Soleno Therapeutics

In related news, CFO James H. Mackaness sold 4,083 shares of Soleno Therapeutics stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $185,409.03. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Bhatnagar Anish sold 10,937 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $496,649.17. Following the completion of the transaction, the chief executive officer now owns 708,616 shares of the company’s stock, valued at $32,178,252.56. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,360 shares of company stock worth $790,119 in the last quarter. 12.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Soleno Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Corebridge Financial Inc. increased its stake in shares of Soleno Therapeutics by 2.9% in the fourth quarter. Corebridge Financial Inc. now owns 12,720 shares of the company’s stock worth $572,000 after purchasing an additional 357 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in Soleno Therapeutics by 24.2% in 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 in the last quarter. AlphaQuest LLC raised its holdings in Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after acquiring an additional 658 shares during the period. US Bancorp DE purchased a new position in shares of Soleno Therapeutics in the fourth quarter valued at $34,000. Finally, Alliancebernstein L.P. lifted its holdings in Soleno Therapeutics by 3.5% during the 4th quarter. Alliancebernstein L.P. now owns 23,810 shares of the company’s stock worth $1,070,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

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.