Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $74.83 Consensus Target Price from Analysts

Soleno Therapeutics, Inc. (NASDAQ:SLNO) has been given a consensus rating of “Buy” by the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and one has assigned 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 $74.83.

Several analysts have commented on SLNO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a research note on Friday, September 20th. Oppenheimer upped their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Robert W. Baird reissued an “outperform” rating and issued a $72.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Finally, HC Wainwright reiterated a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd.

Soleno Therapeutics Stock Down 4.8 %

SLNO opened at $44.82 on Friday. The firm has a market cap of $1.93 billion, a P/E ratio of -13.50 and a beta of -1.47. The business’s fifty day simple moving average is $52.05 and its 200 day simple moving average is $49.10. Soleno Therapeutics has a 52 week low of $35.70 and a 52 week high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($1.22). As a group, equities analysts expect that Soleno Therapeutics will post -3.7 EPS for the current fiscal year.

Insider Buying and Selling at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 21,633 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $1,069,319.19. Following the transaction, the chief executive officer now owns 719,553 shares of the company’s stock, valued at approximately $35,567,504.79. This trade represents a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kristen Yen sold 3,108 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $153,628.44. Following the sale, the insider now directly owns 81,465 shares of the company’s stock, valued at approximately $4,026,814.95. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,818 shares of company stock valued at $1,622,194. Company insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank acquired a new stake in shares of Soleno Therapeutics in the second quarter valued at about $31,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Soleno Therapeutics in the third quarter valued at approximately $155,000. Curi RMB Capital LLC acquired a new stake in Soleno Therapeutics in the third quarter valued at approximately $202,000. Intech Investment Management LLC purchased a new stake in shares of Soleno Therapeutics during the third quarter valued at approximately $262,000. Finally, Fred Alger Management LLC acquired a new position in shares of Soleno Therapeutics during the third quarter worth $310,000. 97.42% of the stock is owned by hedge funds and other institutional investors.

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.