Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $115.09 Consensus PT from Analysts

Key Points

• Soleno Therapeutics has a consensus rating of "Buy" from twelve brokerages, with eleven analysts rating it as a buy and one as a strong buy, leading to an average 1-year price target of $115.09.
• Insider Patricia C. Hirano sold 3,830 shares of Soleno Therapeutics at $82.76, reducing her ownership by 22.48%.
• Hedge funds have increased their holdings significantly, with Adage Capital Partners GP L.L.C. boosting its stake by 58.2% in the first quarter, now owning nearly 4.4 million shares valued at $313.86 million.

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) have been given a consensus rating of "Buy" by the twelve research firms that are presently covering the firm, Marketbeat reports. Eleven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $115.0909.

Several equities analysts have recently issued reports on the company. Wells Fargo & Company assumed coverage on Soleno Therapeutics in a research note on Wednesday, August 20th. They issued an "overweight" rating and a $123.00 price target on the stock. Wall Street Zen raised Soleno Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Guggenheim reissued a "buy" rating and set a $106.00 price objective on shares of Soleno Therapeutics in a report on Wednesday, August 27th. Lifesci Capital raised Soleno Therapeutics to a "strong-buy" rating in a report on Wednesday, September 10th. Finally, Cowen reissued a "buy" rating on shares of Soleno Therapeutics in a report on Thursday, August 7th.

Soleno Therapeutics Trading Up 3.4%

Soleno Therapeutics stock traded up $1.84 during mid-day trading on Monday, reaching $56.58. 1,962,635 shares of the company were exchanged, compared to its average volume of 2,067,221. The company has a fifty day simple moving average of $73.37 and a 200-day simple moving average of $72.33. Soleno Therapeutics has a 12 month low of $41.50 and a 12 month high of $90.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 15.13 and a quick ratio of 15.01.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.53) by $0.44. The company had revenue of $32.66 million for the quarter, compared to the consensus estimate of $3.91 million. As a group, equities analysts anticipate that Soleno Therapeutics will post -3.72 EPS for the current year.

Insider Buying and Selling at Soleno Therapeutics

In related news, insider Patricia C. Hirano sold 3,830 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $82.76, for a total transaction of $316,970.80. Following the sale, the insider owned 13,206 shares of the company's stock, valued at $1,092,928.56. This trade represents a 22.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Optimize Financial Inc acquired a new position in Soleno Therapeutics during the 1st quarter worth about $274,000. Scientech Research LLC lifted its holdings in Soleno Therapeutics by 120.5% during the 1st quarter. Scientech Research LLC now owns 11,620 shares of the company's stock worth $830,000 after buying an additional 6,351 shares during the period. GAMMA Investing LLC lifted its holdings in Soleno Therapeutics by 4,377.3% during the 1st quarter. GAMMA Investing LLC now owns 3,358 shares of the company's stock worth $240,000 after buying an additional 3,283 shares during the period. Woodline Partners LP lifted its holdings in Soleno Therapeutics by 16.0% during the 1st quarter. Woodline Partners LP now owns 349,664 shares of the company's stock worth $24,983,000 after buying an additional 48,102 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new position in Soleno Therapeutics during the 1st quarter worth about $232,000. 97.42% of the stock is owned by institutional investors and hedge funds.

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.