Robert W. Baird Forecasts Strong Price Appreciation for Soleno Therapeutics (NASDAQ:SLNO) Stock

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) had its price objective hoisted by analysts at Robert W. Baird from $102.00 to $105.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's price objective would indicate a potential upside of 36.77% from the company's previous close.

Other equities research analysts have also issued research reports about the company. HC Wainwright reiterated a "buy" rating and issued a $100.00 target price on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. Piper Sandler upped their price objective on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Cantor Fitzgerald boosted their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. UBS Group set a $105.00 price objective on Soleno Therapeutics in a research note on Thursday, March 27th. Finally, Lifesci Capital raised Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. Eight investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $106.78.

Soleno Therapeutics Trading Up 0.7 %

Shares of SLNO traded up $0.51 during midday trading on Thursday, hitting $76.77. 950,943 shares of the company's stock traded hands, compared to its average volume of 739,450. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of -23.12 and a beta of -2.67. Soleno Therapeutics has a 1 year low of $36.93 and a 1 year high of $80.99. The firm's fifty day moving average is $63.25 and its 200-day moving average is $54.36.

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

Insider Activity

In other news, VP Michael F. Huang sold 14,583 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $69.51, for a total value of $1,013,664.33. Following the sale, the vice president now directly owns 36,817 shares of the company's stock, valued at approximately $2,559,149.67. The trade was a 28.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patricia C. Hirano sold 128,653 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were 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 directly owns 55,789 shares in the company, 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. Insiders sold 942,672 shares of company stock worth $64,058,781 over the last ninety days. Corporate insiders own 12.30% of the company's stock.

Institutional Investors Weigh In On Soleno Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Westfield Capital Management Co. LP grew its position in Soleno Therapeutics by 37.4% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,211,245 shares of the company's stock valued at $86,543,000 after acquiring an additional 329,785 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Soleno Therapeutics by 19.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,360 shares of the company's stock worth $312,000 after buying an additional 720 shares during the period. XTX Topco Ltd lifted its holdings in Soleno Therapeutics by 267.2% during the 1st quarter. XTX Topco Ltd now owns 23,105 shares of the company's stock worth $1,651,000 after buying an additional 16,813 shares in the last quarter. RWC Asset Management LLP purchased a new position in Soleno Therapeutics in the 1st quarter valued at approximately $308,000. Finally, TD Asset Management Inc boosted its position in Soleno Therapeutics by 23.9% in the 1st quarter. TD Asset Management Inc now owns 74,010 shares of the company's stock valued at $5,288,000 after buying an additional 14,276 shares during the period. Hedge funds and other institutional investors own 97.42% of the company's stock.

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.