Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $69.86 Consensus Target Price from Analysts

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have been given a consensus recommendation of “Buy” by the eight ratings firms that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $69.86.

A number of equities analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a research report on Friday, September 20th. HC Wainwright started coverage on Soleno Therapeutics in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $70.00 target price on the stock. Oppenheimer lifted their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Finally, Stifel Nicolaus lifted their target price on Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st.

Soleno Therapeutics Stock Performance

Shares of Soleno Therapeutics stock opened at $57.11 on Friday. Soleno Therapeutics has a one year low of $21.38 and a one year high of $59.36. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -23.41 and a beta of -1.44. The business’s 50 day moving average price is $51.91 and its 200 day moving average price is $47.31.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.06. On average, analysts predict that Soleno Therapeutics will post -2.29 EPS for the current fiscal year.

Insider Activity at Soleno Therapeutics

In related news, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $48.73, for a total value of $24,365,000.00. Following the sale, the insider now owns 6,816,851 shares in the company, valued at approximately $332,185,149.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $48.73, for a total transaction of $24,365,000.00. Following the completion of the transaction, the insider now directly owns 6,816,851 shares of the company’s stock, valued at $332,185,149.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Bhatnagar Anish sold 56,613 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $47.58, for a total value of $2,693,646.54. Following the transaction, the chief executive officer now directly owns 799,577 shares of the company’s stock, valued at $38,043,873.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 701,362 shares of company stock worth $33,970,517. 12.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SLNO. Amalgamated Bank acquired a new position in shares of Soleno Therapeutics during the 2nd quarter worth about $31,000. Curi RMB Capital LLC acquired a new position in shares of Soleno Therapeutics during the 3rd quarter worth about $202,000. Victory Capital Management Inc. boosted its position in shares of Soleno Therapeutics by 26.3% during the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after acquiring an additional 2,236 shares in the last quarter. Sei Investments Co. boosted its position in shares of Soleno Therapeutics by 22.0% during the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock worth $538,000 after acquiring an additional 2,264 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Soleno Therapeutics during the 2nd quarter worth about $569,000. 97.42% of the stock is owned by institutional investors and hedge funds.

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.