Soleno Therapeutics (NASDAQ:SLNO) Earns “Outperform” Rating from Robert W. Baird

Soleno Therapeutics (NASDAQ:SLNO)‘s stock had its “outperform” rating reiterated by analysts at Robert W. Baird in a research note issued to investors on Monday,Benzinga reports. They presently have a $72.00 price target on the stock. Robert W. Baird’s price objective suggests a potential upside of 36.60% from the stock’s previous close.

Several other equities research analysts have also commented on SLNO. Oppenheimer upped their price objective on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a research note on Monday, November 11th. Stifel Nicolaus boosted their price objective on Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $67.00 target price on shares of Soleno Therapeutics in a research note on Friday, September 20th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $74.83.

Soleno Therapeutics Stock Performance

Soleno Therapeutics stock opened at $52.71 on Monday. Soleno Therapeutics has a one year low of $27.27 and a one year high of $60.92. The stock has a fifty day moving average of $53.51 and a 200 day moving average of $48.67. The stock has a market cap of $2.27 billion, a PE ratio of -15.88 and a beta of -1.44.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($1.22). As a group, sell-side analysts predict that Soleno Therapeutics will post -3.76 EPS for the current fiscal year.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, insider Kristen Yen sold 3,108 shares of the business’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 sale, the insider now owns 81,465 shares in the company, valued at $4,026,814.95. The trade was a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bhatnagar Anish sold 21,633 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $1,069,319.19. Following the transaction, the chief executive officer now directly owns 719,553 shares of the company’s stock, valued at $35,567,504.79. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,818 shares of company stock valued at $1,622,194. 12.30% of the stock is owned by company insiders.

Institutional Trading of Soleno Therapeutics

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Soleno Therapeutics in the 3rd quarter worth about $490,000. Teachers Retirement System of The State of Kentucky bought a new stake in Soleno Therapeutics during the third quarter worth approximately $656,000. Geode Capital Management LLC increased its stake in Soleno Therapeutics by 10.5% during the third quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock worth $27,286,000 after acquiring an additional 51,189 shares during 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 during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Soleno Therapeutics by 73.8% in the 3rd quarter. Wellington Management Group LLP now owns 683,170 shares of the company’s stock valued at $34,493,000 after purchasing an additional 290,135 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.

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.