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

Key Points

• Soleno Therapeutics, Inc. has received an average consensus recommendation of "Buy" from eleven analysts, with a one-year price target averaging $108.70.
• Insider Patricia C. Hirano sold 3,830 shares of the company's stock, representing a 22.48% decrease in her ownership.
• Institutional investors own 97.42% of Soleno Therapeutics' stock, with notable increases in holdings from various investment firms in recent quarters.

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

A number of research analysts recently commented on the company. TD Cowen assumed coverage on Soleno Therapeutics in a report on Monday, June 23rd. They issued a "buy" rating and a $110.00 price target on the stock. Wall Street Zen raised Soleno Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. HC Wainwright reissued a "buy" rating and issued a $100.00 price target on shares of Soleno Therapeutics in a report on Tuesday, April 15th. Guggenheim boosted their price target on Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Cowen started coverage on Soleno Therapeutics in a report on Monday, June 23rd. They issued a "buy" rating on the stock.

Insider Transactions at Soleno Therapeutics

In related news, insider Patricia C. Hirano sold 3,830 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $82.76, for a total value of $316,970.80. Following the completion of the sale, the insider directly owned 13,206 shares in the company, valued at $1,092,928.56. This trade represents a 22.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.40% of the stock is currently owned by insiders.

Institutional Trading of Soleno Therapeutics

Institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its stake in Soleno Therapeutics by 287.8% in the second quarter. Nisa Investment Advisors LLC now owns 539 shares of the company's stock worth $45,000 after purchasing an additional 400 shares during the period. AlphaQuest LLC increased its stake in Soleno Therapeutics by 37.5% in the first quarter. AlphaQuest LLC now owns 983 shares of the company's stock worth $70,000 after purchasing an additional 268 shares during the period. Springhill Fund Asset Management HK Co Ltd purchased a new stake in Soleno Therapeutics in the fourth quarter worth $81,000. Summit Investment Advisors Inc. increased its stake in Soleno Therapeutics by 24.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock worth $120,000 after purchasing an additional 522 shares during the period. Finally, Quarry LP purchased a new stake in Soleno Therapeutics in the first quarter worth $121,000. 97.42% of the stock is currently owned by institutional investors.

Soleno Therapeutics Price Performance

Shares of NASDAQ:SLNO opened at $86.00 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 19.64 and a quick ratio of 19.64. Soleno Therapeutics has a 1-year low of $41.50 and a 1-year high of $90.32. The company has a market capitalization of $4.33 billion, a P/E ratio of -18.61 and a beta of -2.56. The firm's 50 day simple moving average is $82.06 and its two-hundred day simple moving average is $67.03.

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

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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