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

by · The Cerbat Gem

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO – Get Free Report) have been given an average rating of “Buy” by the seven brokerages that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $74.83.

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

Read Our Latest Stock Analysis on SLNO

Insider Buying and Selling

In related news, CEO Bhatnagar Anish sold 21,633 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $1,069,319.19. Following the sale, the chief executive officer now owns 719,553 shares of the company’s stock, valued at approximately $35,567,504.79. The trade was a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kristen Yen sold 3,108 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $153,628.44. Following the completion of the transaction, 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. Insiders have sold 32,818 shares of company stock valued at $1,622,194 over the last quarter. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Soleno Therapeutics

A number of institutional investors have recently bought and sold shares of SLNO. FMR LLC raised its stake in shares of Soleno Therapeutics by 6,048,754.5% during the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after buying an additional 665,363 shares during the last quarter. Sofinnova Investments Inc. increased its holdings in Soleno Therapeutics by 267.7% during the 2nd quarter. Sofinnova Investments Inc. now owns 554,359 shares of the company’s stock valued at $22,618,000 after acquiring an additional 403,584 shares in the last quarter. Samlyn Capital LLC raised its position in Soleno Therapeutics by 128.9% during the second quarter. Samlyn Capital LLC now owns 501,049 shares of the company’s stock worth $20,443,000 after acquiring an additional 282,122 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Soleno Therapeutics by 174.0% in the second quarter. TD Asset Management Inc now owns 57,534 shares of the company’s stock valued at $2,347,000 after purchasing an additional 36,534 shares in the last quarter. Finally, State Street Corp grew its position in shares of Soleno Therapeutics by 14.2% in the third quarter. State Street Corp now owns 1,142,169 shares of the company’s stock valued at $57,668,000 after purchasing an additional 142,033 shares during the last quarter. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Soleno Therapeutics Stock Performance

SLNO opened at $44.82 on Friday. The business’s 50-day simple moving average is $52.05 and its 200-day simple moving average is $49.10. The stock has a market capitalization of $1.93 billion, a P/E ratio of -13.50 and a beta of -1.47. Soleno Therapeutics has a one year low of $35.70 and a one year high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO – Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). On average, equities research analysts forecast that Soleno Therapeutics will post -3.7 EPS for the current fiscal year.

About Soleno Therapeutics

(Get Free Report

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.

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