Soleno Therapeutics (NASDAQ:SLNO) Upgraded by Lifesci Capital to “Strong-Buy” Rating

Lifesci Capital upgraded shares of Soleno Therapeutics (NASDAQ:SLNO) to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

Several other brokerages also recently weighed in on SLNO. Robert W. Baird reaffirmed an “outperform” rating and issued a $72.00 target price on shares of Soleno Therapeutics in a research report on Monday, December 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 target price on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $74.00 target price on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Finally, Oppenheimer upped their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $74.83.

Soleno Therapeutics Trading Up 2.6 %

SLNO stock opened at $49.78 on Tuesday. The stock has a 50-day moving average price of $47.59 and a two-hundred day moving average price of $49.79. Soleno Therapeutics has a 12-month low of $36.61 and a 12-month high of $60.92. The company has a market cap of $2.15 billion, a PE ratio of -14.99 and a beta of -1.46.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). Equities analysts forecast that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, insider Kristen Yen sold 2,340 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 76,605 shares in the company, valued at $3,537,618.90. This represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO James H. Mackaness sold 4,083 shares of the company’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 value of $185,409.03. Following the sale, the chief financial officer now owns 115,089 shares in the company, valued at $5,226,191.49. The trade was a 3.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,360 shares of company stock valued at $790,119. Insiders own 12.30% of the company’s stock.

Institutional Trading of Soleno Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its position in shares of Soleno Therapeutics by 120.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,408 shares of the company’s stock worth $2,016,000 after purchasing an additional 27,020 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Soleno Therapeutics by 5.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 141,424 shares of the company’s stock worth $7,140,000 after purchasing an additional 7,840 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Soleno Therapeutics during the 3rd quarter worth approximately $1,820,000. Emerald Advisers LLC raised its position in shares of Soleno Therapeutics by 6.8% during the 3rd quarter. Emerald Advisers LLC now owns 313,334 shares of the company’s stock worth $15,820,000 after purchasing an additional 20,006 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Soleno Therapeutics by 25.9% during the 3rd quarter. Victory Capital Management Inc. now owns 13,509 shares of the company’s stock worth $682,000 after purchasing an additional 2,782 shares during the period. Institutional investors and hedge funds own 97.42% of the company’s stock.

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.