Brokerages Set Soleno Therapeutics, Inc. (NASDAQ:SLNO) Price Target at $55.60

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) has earned an average recommendation of "Buy" from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $58.33.

SLNO has been the subject of a number of recent analyst reports. Stifel Nicolaus assumed coverage on Soleno Therapeutics in a report on Tuesday, January 23rd. They set a "buy" rating and a $63.00 target price for the company. Robert W. Baird started coverage on shares of Soleno Therapeutics in a research note on Friday. They set an "outperform" rating and a $72.00 target price on the stock. Finally, Piper Sandler assumed coverage on shares of Soleno Therapeutics in a research note on Monday, February 5th. They issued an "overweight" rating and a $93.00 price target for the company.

Insider Activity

In other news, CFO James H. Mackaness sold 5,175 shares of the firm's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $41.34, for a total transaction of $213,934.50. Following the transaction, the chief financial officer now owns 62,953 shares in the company, valued at $2,602,477.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Kristen Yen sold 2,218 shares of Soleno Therapeutics stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $41.34, for a total transaction of $91,692.12. Following the completion of the sale, the insider now owns 23,422 shares of the company's stock, valued at $968,265.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James H. Mackaness sold 5,175 shares of the firm's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $41.34, for a total transaction of $213,934.50. Following the sale, the chief financial officer now owns 62,953 shares in the company, valued at approximately $2,602,477.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 776,373 shares of company stock worth $36,940,260. Company insiders own 28.80% of the company's stock.

Institutional Trading of Soleno Therapeutics

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in Soleno Therapeutics during the third quarter worth about $280,000. Aspiriant LLC acquired a new position in Soleno Therapeutics during the 4th quarter worth approximately $488,000. Cannon Global Investment Management LLC acquired a new position in Soleno Therapeutics during the 1st quarter worth approximately $505,000. Sei Investments Co. boosted its holdings in shares of Soleno Therapeutics by 22.0% in the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company's stock valued at $538,000 after buying an additional 2,264 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Soleno Therapeutics in the 3rd quarter valued at $685,000. Institutional investors and hedge funds own 97.42% of the company's stock.

Soleno Therapeutics Price Performance

NASDAQ SLNO traded down $2.65 during trading hours on Friday, reaching $44.99. 546,056 shares of the stock traded hands, compared to its average volume of 363,572. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -15.13 and a beta of -1.51. The stock has a 50 day simple moving average of $42.57 and a two-hundred day simple moving average of $39.06. Soleno Therapeutics has a 1 year low of $3.69 and a 1 year high of $53.82.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings data on Wednesday, March 6th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.02). On average, sell-side analysts forecast that Soleno Therapeutics will post -1.23 EPS for the current fiscal year.

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.