Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $74.83 Consensus Price Target from Analysts

Soleno Therapeutics, Inc. (NASDAQ:SLNO) has earned an average recommendation of “Buy” from the seven analysts that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $74.83.

SLNO has been the topic of several research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a research report on Friday, September 20th. Robert W. Baird restated an “outperform” rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Oppenheimer increased their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $74.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd.

Soleno Therapeutics Price Performance

Soleno Therapeutics stock opened at $44.77 on Friday. The stock has a market capitalization of $1.93 billion, a PE ratio of -13.48 and a beta of -1.47. The business has a 50 day simple moving average of $52.56 and a 200-day simple moving average of $49.16. Soleno Therapeutics has a 12 month low of $35.70 and a 12 month high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($1.22). On average, equities research analysts anticipate that Soleno Therapeutics will post -3.7 EPS for the current fiscal year.

Insider Activity

In other Soleno Therapeutics news, CFO James H. Mackaness sold 8,077 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $399,246.11. Following the completion of the sale, the chief financial officer now owns 119,172 shares of the company’s stock, valued at $5,890,671.96. This trade represents a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kristen Yen sold 3,108 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $153,628.44. Following the completion of the transaction, the insider now directly owns 81,465 shares in the company, valued at approximately $4,026,814.95. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,818 shares of company stock valued at $1,622,194. 12.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Amalgamated Bank acquired a new position in shares of Soleno Therapeutics in the second quarter valued at approximately $31,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Soleno Therapeutics in the 3rd quarter valued at approximately $155,000. Curi RMB Capital LLC acquired a new position in shares of Soleno Therapeutics in the third quarter worth $202,000. Intech Investment Management LLC purchased a new stake in shares of Soleno Therapeutics during the third quarter worth $262,000. Finally, Fred Alger Management LLC purchased a new stake in shares of Soleno Therapeutics during the third quarter worth $310,000. 97.42% of the stock is currently owned by hedge funds and other 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.