HC Wainwright Reaffirms Buy Rating for Soleno Therapeutics (NASDAQ:SLNO)

Soleno Therapeutics (NASDAQ:SLNO)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $70.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 43.38% from the stock’s previous close.

A number of other brokerages also recently commented on SLNO. Robert W. Baird reiterated an “outperform” rating and set a $72.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Soleno Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $71.20.

Soleno Therapeutics Stock Performance

Soleno Therapeutics stock opened at $48.82 on Monday. Soleno Therapeutics has a fifty-two week low of $36.61 and a fifty-two week high of $60.92. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -14.70 and a beta of -1.46. The stock has a fifty day moving average of $47.18 and a two-hundred day moving average of $49.96.

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). On average, analysts forecast that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Bhatnagar Anish sold 10,937 shares of the firm’s stock in a transaction dated 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 in the company, valued at $32,178,252.56. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James H. Mackaness sold 4,083 shares of Soleno Therapeutics 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 completion of the transaction, the chief financial officer now directly owns 115,089 shares in the company, 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. Over the last quarter, insiders sold 17,360 shares of company stock valued at $790,119. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC grew its stake in Soleno Therapeutics by 27.1% during 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 period. FMR LLC boosted its position in Soleno Therapeutics by 6,048,754.5% during 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 period. Nantahala Capital Management LLC increased its holdings in 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. Westfield Capital Management Co. LP acquired a new stake in Soleno Therapeutics in the 3rd quarter valued at $25,028,000. Finally, Avoro Capital Advisors LLC lifted its stake 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 in the last quarter. Hedge funds and other institutional investors 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.