Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Consensus Rating of "Buy" by Analysts

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) has received a consensus rating of "Buy" from the nine brokerages that are presently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $106.78.

A number of research firms have commented on SLNO. Cantor Fitzgerald raised their price target on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Laidlaw upped their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Robert W. Baird upped their price target on 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 boosted their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Finally, Lifesci Capital upgraded shares of Soleno Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 4th.

Soleno Therapeutics Stock Up 4.1%

SLNO traded up $3.00 during trading on Tuesday, hitting $76.89. The company's stock had a trading volume of 474,984 shares, compared to its average volume of 749,080. Soleno Therapeutics has a twelve month low of $36.93 and a twelve month high of $80.99. The stock's fifty day moving average price is $68.88 and its 200-day moving average price is $55.70. The firm has a market capitalization of $3.87 billion, a P/E ratio of -23.16 and a beta of -2.67.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued 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. Equities research analysts expect that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Bhatnagar Anish sold 699,095 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the transaction, the chief executive officer now directly owns 577,076 shares of the company's stock, valued at $39,021,879.12. This trade represents a 54.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Patricia C. Hirano sold 128,653 shares of the company'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 transaction, the insider now directly owns 55,789 shares of the company's stock, valued at approximately $3,811,504.48. This represents a 69.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 942,672 shares of company stock worth $64,058,781. 12.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Soleno Therapeutics

Several institutional investors have recently modified their holdings of SLNO. Adage Capital Partners GP L.L.C. grew its position in shares of Soleno Therapeutics by 58.2% during the 1st 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 acquiring an additional 1,616,720 shares during the period. Janus Henderson Group PLC grew its position in shares of Soleno Therapeutics by 27.1% during 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. Price T Rowe Associates Inc. MD grew its position in shares of Soleno Therapeutics by 47.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,400,418 shares of the company's stock valued at $171,510,000 after acquiring an additional 769,700 shares during the period. Nantahala Capital Management LLC grew its position in shares of Soleno Therapeutics by 20.1% during the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company's stock valued at $176,607,000 after acquiring an additional 658,518 shares during the period. Finally, Invesco Ltd. grew its position in shares of Soleno Therapeutics by 3,789.4% during the 1st quarter. Invesco Ltd. now owns 467,193 shares of the company's stock valued at $33,381,000 after acquiring an additional 455,181 shares during the period. 97.42% of the stock is owned by institutional investors.

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.