Soleno Therapeutics (NASDAQ:SLNO) Given New $102.00 Price Target at Robert W. Baird

Soleno Therapeutics (NASDAQ:SLNO) had its target price boosted by Robert W. Baird from $72.00 to $102.00 in a research note published on Thursday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other equities analysts also recently weighed in on SLNO. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research note on Monday, March 3rd. Finally, Stifel Nicolaus initiated coverage on Soleno Therapeutics in a report on Wednesday, March 5th. They issued a “buy” rating and a $74.00 price objective on the stock. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $91.17.

Soleno Therapeutics Trading Up 37.6 %

NASDAQ:SLNO opened at $67.39 on Thursday. Soleno Therapeutics has a 12-month low of $36.61 and a 12-month high of $72.96. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -20.30 and a beta of -1.70. The company’s 50-day moving average is $48.44 and its two-hundred day moving average is $49.90.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.41). On average, equities research analysts forecast that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Soleno Therapeutics news, insider Kristen Yen sold 2,340 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $46.18, for a total value of $108,061.20. Following the completion of the transaction, the insider now directly owns 76,605 shares of the company’s stock, valued at $3,537,618.90. This represents a 2.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James H. Mackaness sold 4,083 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $185,409.03. Following the sale, the chief financial officer now owns 115,089 shares of the company’s stock, valued at $5,226,191.49. This represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,360 shares of company stock worth $790,119 in the last 90 days. 12.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Soleno Therapeutics

Institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC increased its stake 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 buying an additional 1,107,166 shares during the last quarter. FMR LLC increased its position in shares of Soleno Therapeutics by 6,048,754.5% in the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after purchasing an additional 665,363 shares during the last quarter. Nantahala Capital Management LLC raised its stake in shares of Soleno Therapeutics by 20.1% in the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock valued at $176,607,000 after purchasing an additional 658,518 shares in the last quarter. Avoro Capital Advisors LLC lifted its position in shares of Soleno Therapeutics by 15.8% during the fourth 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 during the last quarter. Finally, Vestal Point Capital LP grew its stake in Soleno Therapeutics by 47.2% in the fourth quarter. Vestal Point Capital LP now owns 1,060,000 shares of the company’s stock worth $47,647,000 after purchasing an additional 340,000 shares in the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.

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.