Soleno Therapeutics (NASDAQ:SLNO) Price Target Raised to $100.00

Soleno Therapeutics (NASDAQ:SLNO) had its target price lifted by stock analysts at HC Wainwright from $70.00 to $100.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 38.91% from the stock’s previous close.

Other research analysts have also issued reports about the company. Guggenheim restated a “buy” rating and issued a $81.00 target price (up from $70.00) on shares of Soleno Therapeutics in a research note on Friday. Laidlaw raised their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus upped their target price on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research note on Friday. Robert W. Baird raised their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $98.86.

Soleno Therapeutics Price Performance

Shares of Soleno Therapeutics stock opened at $71.99 on Monday. The company has a market cap of $3.30 billion, a PE ratio of -21.68 and a beta of -1.70. The firm has a fifty day moving average price of $48.94 and a two-hundred day moving average price of $50.08. Soleno Therapeutics has a fifty-two week low of $36.61 and a fifty-two week high of $73.97.

Soleno Therapeutics (NASDAQ:SLNO) last released 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). Analysts expect that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Insider Transactions at Soleno Therapeutics

In other news, insider Kristen Yen sold 2,340 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the transaction, the insider now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James H. Mackaness sold 4,083 shares of Soleno Therapeutics stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $185,409.03. Following the completion of the sale, the chief financial officer now owns 115,089 shares of the company’s stock, valued at approximately $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 have sold 17,360 shares of company stock valued at $790,119 in the last three months. 12.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SLNO. AlphaQuest LLC increased its position 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 bought a new position in Soleno Therapeutics in the fourth quarter valued at $34,000. Avanza Fonder AB bought a new position in shares of Soleno Therapeutics in the 4th quarter valued at about $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in shares of Soleno Therapeutics in the fourth quarter valued at about $81,000. Finally, Avior Wealth Management LLC bought a new stake in Soleno Therapeutics during the fourth quarter worth about $89,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

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.