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

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have received a consensus rating of “Buy” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $71.20.

A number of equities research analysts recently issued reports on the stock. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Robert W. Baird reiterated an “outperform” rating and set a $72.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Oppenheimer boosted their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Finally, HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd.

Soleno Therapeutics Stock Up 2.1 %

SLNO stock opened at $51.33 on Friday. The firm has a 50 day moving average of $47.14 and a two-hundred day moving average of $49.92. Soleno Therapeutics has a 12 month low of $36.61 and a 12 month high of $60.92. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -15.46 and a beta of -1.46.

Insider Buying and Selling

In other news, CFO James H. Mackaness sold 4,083 shares of the business’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 $185,409.03. Following the transaction, the chief financial officer now owns 115,089 shares in the company, valued at approximately $5,226,191.49. The trade was a 3.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Bhatnagar Anish sold 10,937 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $496,649.17. Following the transaction, the chief executive officer now owns 708,616 shares in the company, valued at approximately $32,178,252.56. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,360 shares of company stock worth $790,119 in the last quarter. 12.30% of the stock is currently owned by company insiders.

Institutional Trading of Soleno Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC increased its stake in Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after acquiring an additional 658 shares during the period. US Bancorp DE bought a new stake in Soleno Therapeutics in the fourth quarter valued at about $34,000. Avanza Fonder AB bought a new stake in Soleno Therapeutics in the fourth quarter valued at about $76,000. Springhill Fund Asset Management HK Co Ltd bought a new stake in Soleno Therapeutics in the fourth quarter valued at about $81,000. Finally, Avior Wealth Management LLC bought a new stake in Soleno Therapeutics in the fourth quarter valued at about $89,000. 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.