Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $71.20 Consensus Target Price from Analysts

Soleno Therapeutics, Inc. (NASDAQ:SLNO) has been assigned an average recommendation of “Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $71.20.

Several research firms have recently weighed in on SLNO. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Stifel Nicolaus started coverage on shares of Soleno Therapeutics in a report on Wednesday, March 5th. They set a “buy” rating and a $74.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a report on Monday, March 3rd. Finally, Robert W. Baird reissued an “outperform” rating and set a $72.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd.

Soleno Therapeutics Stock Performance

SLNO opened at $46.70 on Thursday. The firm’s 50-day simple moving average is $47.15 and its 200-day simple moving average is $49.70. Soleno Therapeutics has a twelve month low of $36.61 and a twelve month high of $60.92. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of -14.07 and a beta of -1.70.

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

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 10,937 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total transaction of $496,649.17. Following the transaction, the chief executive officer now directly owns 708,616 shares in the company, valued at approximately $32,178,252.56. This represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kristen Yen sold 2,340 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were 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 in the company, valued at approximately $3,537,618.90. The trade was a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,360 shares of company stock worth $790,119. Company insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position in shares of Soleno Therapeutics by 27.1% in the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock valued at $233,130,000 after acquiring an additional 1,107,166 shares during the period. Nantahala Capital Management LLC raised its position in shares of Soleno Therapeutics by 20.1% in the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock valued at $176,607,000 after acquiring an additional 658,518 shares during the period. Avoro Capital Advisors LLC raised its position in shares of Soleno Therapeutics by 15.8% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock valued at $113,499,000 after acquiring an additional 344,000 shares during the period. Vanguard Group Inc. raised its position in shares of Soleno Therapeutics by 19.2% in the 4th quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock valued at $84,710,000 after acquiring an additional 303,806 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Soleno Therapeutics by 24.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company’s stock valued at $73,301,000 after acquiring an additional 321,223 shares during the period. 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.