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

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) have received a consensus recommendation of "Buy" from the nine analysts that are presently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $106.78.

Several brokerages recently commented on SLNO. UBS Group set a $105.00 price objective on shares of Soleno Therapeutics in a research note on Thursday, March 27th. Lifesci Capital upgraded shares of Soleno Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 4th. Laidlaw lifted their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Piper Sandler lifted their price objective on Soleno Therapeutics from $93.00 to $145.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Finally, Cantor Fitzgerald lifted their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th.

Soleno Therapeutics Price Performance

SLNO opened at $75.58 on Tuesday. The business has a 50 day simple moving average of $66.86 and a 200-day simple moving average of $55.19. The stock has a market capitalization of $3.81 billion, a P/E ratio of -22.77 and a beta of -2.67. Soleno Therapeutics has a 12 month low of $36.93 and a 12 month high of $80.99.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.95) EPS for the quarter, beating analysts' consensus estimates of ($1.14) by $0.19. Research analysts anticipate that Soleno Therapeutics will post -3.72 EPS for the current year.

Insider Transactions at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 699,095 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $67.62, for a total value of $47,272,803.90. Following the completion of the transaction, the chief executive officer now directly owns 577,076 shares in the company, valued at approximately $39,021,879.12. This represents a 54.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Patricia C. Hirano sold 3,782 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total value of $265,156.02. Following the completion of the transaction, the insider now owns 27,036 shares of the company's stock, valued at $1,895,493.96. The trade was a 12.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 942,672 shares of company stock valued at $64,058,781 over the last three months. 12.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC increased its position in Soleno Therapeutics by 27.1% during the fourth quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company's stock worth $233,130,000 after purchasing an additional 1,107,166 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Soleno Therapeutics by 58.2% during the first quarter. Adage Capital Partners GP L.L.C. now owns 4,392,696 shares of the company's stock worth $313,858,000 after acquiring an additional 1,616,720 shares during the last quarter. Nantahala Capital Management LLC increased its stake in 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 acquiring an additional 658,518 shares during the last quarter. Avoro Capital Advisors LLC increased its position in Soleno Therapeutics by 15.8% during the 4th 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 increased its position in 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 worth $171,510,000 after purchasing an additional 769,700 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company's stock.

Soleno Therapeutics Company Profile

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.

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