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

Soleno Therapeutics (NASDAQ:SLNO) had its target price increased by HC Wainwright from $70.00 to $100.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

SLNO has been the subject of a number of other research reports. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Stifel Nicolaus upped their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Cantor Fitzgerald upped their price objective on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Guggenheim reaffirmed a “buy” rating and issued a $81.00 price target (up from $70.00) on shares of Soleno Therapeutics in a research note on Friday, March 28th. Finally, Laidlaw boosted their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $98.86.

Soleno Therapeutics Trading Up 7.9 %

Soleno Therapeutics stock opened at $73.67 on Monday. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -22.19 and a beta of -2.29. Soleno Therapeutics has a 1-year low of $36.61 and a 1-year high of $73.97. The firm has a 50 day simple moving average of $50.32 and a 200 day simple moving average of $50.50.

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 analysts’ consensus estimates of ($0.86) by ($0.41). On average, equities research analysts forecast that Soleno Therapeutics will post -3.72 EPS for the current year.

Insiders Place Their Bets

In other news, Director Matthew Pauls sold 5,937 shares of the firm’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $71.55, for a total transaction of $424,792.35. Following the sale, the director now directly owns 6,500 shares in the company, valued at $465,075. This trade represents a 47.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patricia C. Hirano sold 3,782 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total value of $265,156.02. Following the completion of the transaction, the insider now directly owns 27,036 shares in the company, valued at approximately $1,895,493.96. This represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 945,012 shares of company stock valued at $64,166,842. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Soleno Therapeutics

Several hedge funds have recently bought and sold shares of SLNO. Janus Henderson Group PLC lifted its position in Soleno Therapeutics by 27.1% in the fourth quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock worth $233,130,000 after buying an additional 1,107,166 shares during the last quarter. FMR LLC boosted its position in Soleno Therapeutics by 6,048,754.5% during the third quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after purchasing an additional 665,363 shares in the last quarter. Nantahala Capital Management LLC boosted its holdings 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 buying an additional 658,518 shares in the last quarter. Avoro Capital Advisors LLC lifted its holdings in shares of Soleno Therapeutics by 15.8% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock valued at $113,499,000 after purchasing an additional 344,000 shares during the last quarter. Finally, Vestal Point Capital LP grew its stake in shares of Soleno Therapeutics by 47.2% during the fourth quarter. Vestal Point Capital LP now owns 1,060,000 shares of the company’s stock worth $47,647,000 after acquiring an additional 340,000 shares during 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.