Stifel Nicolaus Issues Positive Forecast for Soleno Therapeutics (NASDAQ:SLNO) Stock Price

Soleno Therapeutics (NASDAQ:SLNO) had its price target upped by Stifel Nicolaus from $74.00 to $108.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on SLNO. Guggenheim restated a “buy” rating and issued a $81.00 target price (up from $70.00) on shares of Soleno Therapeutics in a research note on Friday. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Cantor Fitzgerald increased their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday. Laidlaw boosted their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Robert W. Baird raised their price objective on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $94.57.

Soleno Therapeutics Stock Performance

NASDAQ SLNO opened at $71.99 on Friday. The company has a market capitalization of $3.30 billion, a PE ratio of -21.68 and a beta of -1.70. Soleno Therapeutics has a 52-week low of $36.61 and a 52-week high of $73.97. The company has a 50-day simple moving average of $48.94 and a 200 day simple moving average of $50.06.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results 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). As a group, analysts forecast that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Bhatnagar Anish sold 10,937 shares of Soleno Therapeutics stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $496,649.17. Following the completion of the sale, the chief executive officer now owns 708,616 shares of the company’s stock, valued at approximately $32,178,252.56. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kristen Yen sold 2,340 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was 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 owns 76,605 shares in the company, valued at $3,537,618.90. This represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,360 shares of company stock valued at $790,119. Company insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

Several hedge funds have recently bought and sold shares of SLNO. FMR LLC raised its position in shares of Soleno Therapeutics by 6,048,754.5% during the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after buying an additional 665,363 shares in the last quarter. Barclays PLC raised its position in Soleno Therapeutics by 149.3% during the third quarter. Barclays PLC now owns 52,545 shares of the company’s stock valued at $2,652,000 after purchasing an additional 31,467 shares in the last quarter. Emerald Advisers LLC lifted its stake in Soleno Therapeutics by 85.4% during the fourth quarter. Emerald Advisers LLC now owns 580,919 shares of the company’s stock worth $26,112,000 after purchasing an additional 267,585 shares during the last quarter. State Street Corp boosted its holdings in shares of Soleno Therapeutics by 14.2% in the 3rd quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after purchasing an additional 142,033 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Soleno Therapeutics by 13.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company’s stock valued at $9,779,000 after purchasing an additional 24,953 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors.

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.