Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives Average Rating of "Buy" from Brokerages

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eleven analysts that are covering the stock, MarketBeat reports. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $107.10.

SLNO has been the topic of several analyst reports. TD Cowen initiated coverage on shares of Soleno Therapeutics in a report on Monday, June 23rd. They issued a "buy" rating and a $110.00 price target on the stock. Cowen began coverage on shares of Soleno Therapeutics in a report on Monday, June 23rd. They issued a "buy" rating on the stock. Robert W. Baird lifted their price objective on shares of Soleno Therapeutics from $102.00 to $105.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Stifel Nicolaus lifted their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Finally, HC Wainwright reiterated a "buy" rating and set a $100.00 price objective on shares of Soleno Therapeutics in a research note on Tuesday, April 15th.

Insider Activity at Soleno Therapeutics

In related news, insider Patricia C. Hirano sold 3,830 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $82.76, for a total transaction of $316,970.80. Following the completion of the sale, the insider owned 13,206 shares of the company's stock, valued at approximately $1,092,928.56. This represents a 22.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Soleno Therapeutics

Several hedge funds have recently made changes to their positions in SLNO. AlphaQuest LLC grew its stake in shares of Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock valued at $32,000 after buying an additional 658 shares during the period. US Bancorp DE purchased a new stake in shares of Soleno Therapeutics in the 4th quarter valued at approximately $34,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in shares of Soleno Therapeutics in the 4th quarter worth approximately $81,000. Summit Investment Advisors Inc. lifted its holdings in shares of Soleno Therapeutics by 24.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock worth $120,000 after acquiring an additional 522 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Soleno Therapeutics in the 1st quarter worth approximately $121,000. Hedge funds and other institutional investors own 97.42% of the company's stock.

Soleno Therapeutics Stock Up 3.8%

SLNO stock traded up $3.23 during trading on Wednesday, hitting $88.49. 1,490,938 shares of the company's stock traded hands, compared to its average volume of 795,363. The firm has a market capitalization of $4.46 billion, a P/E ratio of -19.15 and a beta of -2.63. The business has a fifty day simple moving average of $78.33 and a two-hundred day simple moving average of $61.98. The company has a quick ratio of 19.64, a current ratio of 19.64 and a debt-to-equity ratio of 0.21. Soleno Therapeutics has a 1 year low of $41.50 and a 1 year high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly 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. Sell-side analysts anticipate that Soleno Therapeutics will post -3.72 EPS for the current 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.