Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $107.10 Consensus Price Target from Brokerages

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) have received an average recommendation of "Buy" from the eleven analysts that are currently covering the firm, MarketBeat reports. Ten analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $108.70.

SLNO has been the topic of a number of analyst reports. HC Wainwright reiterated a "buy" rating and set a $100.00 target price on shares of Soleno Therapeutics in a report on Tuesday, April 15th. Stifel Nicolaus lifted their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Cowen assumed coverage on shares of Soleno Therapeutics in a research note on Monday, June 23rd. They issued a "buy" rating for the company. Robert W. Baird upped their target price on shares of Soleno Therapeutics from $105.00 to $121.00 and gave the company an "outperform" rating in a report on Friday. Finally, 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 report on Thursday, March 27th.

Insider Buying and Selling

In other news, insider Patricia C. Hirano sold 3,830 shares of Soleno Therapeutics stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $82.76, for a total value of $316,970.80. Following the transaction, the insider directly owned 13,206 shares of the company's stock, valued at $1,092,928.56. The trade was a 22.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 6.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SLNO. Janus Henderson Group PLC raised its stake in shares of Soleno Therapeutics by 27.1% in the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company's stock valued at $233,130,000 after acquiring an additional 1,107,166 shares during the period. Adage Capital Partners GP L.L.C. raised its position in Soleno Therapeutics by 58.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 4,392,696 shares of the company's stock valued at $313,858,000 after purchasing an additional 1,616,720 shares during the period. Nantahala Capital Management LLC lifted its stake in shares of Soleno Therapeutics by 20.1% during the fourth quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company's stock worth $176,607,000 after purchasing an additional 658,518 shares in the last quarter. Avoro Capital Advisors LLC lifted its stake in shares of Soleno Therapeutics by 15.8% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company's stock worth $113,499,000 after purchasing an additional 344,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Soleno Therapeutics by 47.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,400,418 shares of the company's stock worth $171,510,000 after buying an additional 769,700 shares during the period. Hedge funds and other institutional investors own 97.42% of the company's stock.

Soleno Therapeutics Price Performance

Shares of SLNO stock traded up $1.23 during midday trading on Wednesday, reaching $81.55. 2,237,985 shares of the company traded hands, compared to its average volume of 825,706. The company has a debt-to-equity ratio of 0.21, a current ratio of 19.64 and a quick ratio of 19.64. The firm's 50 day simple moving average is $78.71 and its two-hundred day simple moving average is $62.41. Soleno Therapeutics has a 1-year low of $41.50 and a 1-year high of $90.32. The firm has a market cap of $4.11 billion, a PE ratio of -17.65 and a beta of -2.63.

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