Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $106.78 Consensus Price Target from Brokerages

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) has been assigned a consensus rating of "Buy" from the nine analysts that are presently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $106.78.

SLNO has been the subject of several research analyst reports. Guggenheim increased their price objective on Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Laidlaw raised their target price on Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Cantor Fitzgerald raised their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Piper Sandler raised their target price on Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Stifel Nicolaus raised their target price on Soleno Therapeutics from $74.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, March 28th.

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,782 shares of Soleno Therapeutics stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total value of $265,156.02. Following the completion of the sale, the insider now owns 27,036 shares of the company's stock, valued at approximately $1,895,493.96. This trade represents a 12.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics 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 sale, the chief executive officer now directly owns 577,076 shares of the company's stock, valued at approximately $39,021,879.12. The trade was a 54.78% decrease in their position. 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. 6.40% of the stock is owned by insiders.

Institutional Trading of Soleno Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. grew its holdings in shares of 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 worth $313,858,000 after acquiring an additional 1,616,720 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Soleno Therapeutics by 27.1% in the fourth quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company's stock worth $233,130,000 after acquiring an additional 1,107,166 shares during the period. Price T Rowe Associates Inc. MD grew its holdings 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 acquiring an additional 769,700 shares during the period. Nantahala Capital Management LLC grew its holdings in shares of Soleno Therapeutics by 20.1% in 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 period. Finally, Invesco Ltd. grew its holdings in shares of Soleno Therapeutics by 3,789.4% in the first quarter. Invesco Ltd. now owns 467,193 shares of the company's stock worth $33,381,000 after acquiring an additional 455,181 shares during the period. Institutional investors own 97.42% of the company's stock.

Soleno Therapeutics Stock Performance

SLNO stock traded down $1.05 during trading on Friday, hitting $79.15. 621,294 shares of the company traded hands, compared to its average volume of 768,769. The firm has a market capitalization of $3.99 billion, a PE ratio of -23.84 and a beta of -2.69. Soleno Therapeutics has a 1 year low of $36.93 and a 1 year high of $81.54. The company has a 50-day moving average of $73.64 and a 200-day moving average of $57.92.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.14) by $0.19. Sell-side analysts expect 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.