Soleno Therapeutics (NASDAQ:SLNO) Price Target Raised to $97.00

Soleno Therapeutics (NASDAQ:SLNO) had its target price upped by Guggenheim from $81.00 to $97.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also commented on SLNO. Robert W. Baird lifted their target price on Soleno Therapeutics from $102.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. HC Wainwright restated a “buy” rating and set a $100.00 target price on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Laidlaw lifted their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, Stifel Nicolaus boosted their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a report on Friday, March 28th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $106.78.

Soleno Therapeutics Price Performance

Shares of Soleno Therapeutics stock opened at $76.77 on Thursday. Soleno Therapeutics has a 1 year low of $36.93 and a 1 year high of $80.99. The firm’s 50-day moving average is $63.25 and its 200 day moving average is $54.36. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of -23.12 and a beta of -2.67.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.19. On average, equities analysts expect that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics news, Director Matthew Pauls sold 5,937 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $71.55, for a total transaction of $424,792.35. Following the completion of the sale, the director now owns 6,500 shares of the company’s stock, valued at approximately $465,075. The trade was a 47.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Patricia C. Hirano sold 128,653 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $68.32, for a total value of $8,789,572.96. Following the completion of the sale, the insider now owns 55,789 shares of the company’s stock, valued at approximately $3,811,504.48. The trade was a 69.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 942,672 shares of company stock valued at $64,058,781. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC lifted its holdings in Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares in the last quarter. US Bancorp DE purchased a new position in shares of Soleno Therapeutics during the 4th quarter valued at $34,000. Avanza Fonder AB bought a new position in Soleno Therapeutics in the 4th quarter worth $76,000. Springhill Fund Asset Management HK Co Ltd purchased a new stake in Soleno Therapeutics in the 4th quarter worth $81,000. Finally, Avior Wealth Management LLC bought a new stake in Soleno Therapeutics during the fourth quarter valued at about $89,000. 97.42% of the stock is currently owned by institutional investors.

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.