Soleno Therapeutics (NASDAQ:SLNO) Given New $100.00 Price Target at HC Wainwright

Soleno Therapeutics (NASDAQ:SLNO) had its price target raised by HC Wainwright from $70.00 to $100.00 in a research report sent to investors on Monday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Guggenheim reissued a “buy” rating and issued a $81.00 price objective (up previously from $70.00) on shares of Soleno Therapeutics in a report on Friday. Stifel Nicolaus boosted their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research report on Friday. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Robert W. Baird lifted their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, March 27th. Finally, Laidlaw upped their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Soleno Therapeutics presently has an average rating of “Buy” and an average target price of $98.86.

Soleno Therapeutics Price Performance

NASDAQ SLNO opened at $71.45 on Monday. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -21.52 and a beta of -1.70. Soleno Therapeutics has a 1-year low of $36.61 and a 1-year high of $73.97. The business’s fifty day moving average price is $49.44 and its 200-day moving average price is $50.23.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). Equities research analysts anticipate that Soleno Therapeutics will post -3.72 EPS for the current year.

Insider Activity

In related news, CEO Bhatnagar Anish sold 10,937 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $496,649.17. Following the transaction, the chief executive officer now directly owns 708,616 shares of the company’s stock, valued at approximately $32,178,252.56. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kristen Yen sold 2,340 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $3,537,618.90. The trade was a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 956,250 shares of company stock worth $64,583,745 over the last ninety days. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of Soleno Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. AlphaQuest LLC increased its holdings in shares of Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock worth $32,000 after purchasing an additional 658 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Soleno Therapeutics during the 4th quarter worth approximately $34,000. Avanza Fonder AB purchased a new stake in shares of Soleno Therapeutics during the 4th quarter worth approximately $76,000. Springhill Fund Asset Management HK Co Ltd bought a new position in shares of Soleno Therapeutics during the 4th quarter valued at approximately $81,000. Finally, Avior Wealth Management LLC bought a new stake in Soleno Therapeutics in the fourth quarter worth $89,000. 97.42% of the stock is currently owned by institutional investors.

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.