Laidlaw Boosts Soleno Therapeutics (NASDAQ:SLNO) Price Target to $105.00

Soleno Therapeutics (NASDAQ:SLNO) had its target price lifted by research analysts at Laidlaw from $75.00 to $105.00 in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. Laidlaw’s price target points to a potential upside of 45.85% from the stock’s current price.

Several other analysts also recently issued reports on SLNO. Cantor Fitzgerald raised their price target on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday. Robert W. Baird increased their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday. Stifel Nicolaus started coverage on Soleno Therapeutics in a research report on Wednesday, March 5th. They issued a “buy” rating and a $74.00 target price on the stock. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, HC Wainwright reissued a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Seven equities research 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.com, the company currently has an average rating of “Buy” and a consensus price target of $94.57.

Soleno Therapeutics Stock Performance

Shares of SLNO stock opened at $71.99 on Thursday. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -21.68 and a beta of -1.70. The company has a 50 day moving average price of $48.94 and a 200 day moving average price of $50.06. Soleno Therapeutics has a one year low of $36.61 and a one year high of $73.97.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). As a group, equities analysts forecast that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 10,937 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 $496,649.17. Following the completion of the sale, the chief executive officer now owns 708,616 shares in the company, valued at approximately $32,178,252.56. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James H. Mackaness sold 4,083 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $185,409.03. Following the completion of the transaction, the chief financial officer now directly owns 115,089 shares of the company’s stock, valued at approximately $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 17,360 shares of company stock valued at $790,119 in the last ninety days. Insiders own 12.30% of the company’s stock.

Institutional Trading of Soleno Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in Soleno Therapeutics by 14.5% during the 4th quarter. Wellington Management Group LLP now owns 782,265 shares of the company’s stock worth $35,163,000 after buying an additional 99,095 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Soleno Therapeutics by 23.6% during the fourth quarter. California State Teachers Retirement System now owns 21,977 shares of the company’s stock valued at $988,000 after acquiring an additional 4,201 shares during the period. Polar Asset Management Partners Inc. lifted its stake in shares of Soleno Therapeutics by 296.8% during the fourth quarter. Polar Asset Management Partners Inc. now owns 125,400 shares of the company’s stock valued at $5,637,000 after acquiring an additional 93,800 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in Soleno Therapeutics in the fourth quarter valued at about $13,451,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Soleno Therapeutics by 24.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,504 shares of the company’s stock worth $1,236,000 after purchasing an additional 5,462 shares during the period. 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.