Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $60.33 Average Price Target from Analysts

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have earned an average recommendation of “Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $60.33.

Several research firms have weighed in on SLNO. Robert W. Baird initiated coverage on Soleno Therapeutics in a research report on Friday, May 10th. They set an “outperform” rating and a $72.00 price target for the company. Oppenheimer cut their target price on shares of Soleno Therapeutics from $65.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. Finally, Baird R W upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a report on Friday, May 10th.

Insider Transactions at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 18,980 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $41.34, for a total transaction of $784,633.20. Following the completion of the sale, the chief executive officer now directly owns 152,790 shares in the company, valued at approximately $6,316,338.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Kristen Yen sold 2,218 shares of Soleno Therapeutics stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $41.34, for a total value of $91,692.12. Following the transaction, the insider now directly owns 23,422 shares of the company’s stock, valued at approximately $968,265.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bhatnagar Anish sold 18,980 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $41.34, for a total value of $784,633.20. Following the sale, the chief executive officer now owns 152,790 shares of the company’s stock, valued at approximately $6,316,338.60. The disclosure for this sale can be found here. Insiders have sold a total of 776,373 shares of company stock worth $36,940,260 in the last three months. Company insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new stake in shares of Soleno Therapeutics in the third quarter worth $280,000. Aspiriant LLC acquired a new stake in Soleno Therapeutics in the 4th quarter valued at $488,000. Cannon Global Investment Management LLC purchased a new position in Soleno Therapeutics in the first quarter valued at about $505,000. Sei Investments Co. lifted its stake in shares of Soleno Therapeutics by 22.0% during the first quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock worth $538,000 after purchasing an additional 2,264 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Soleno Therapeutics by 33.8% in the first quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock worth $590,000 after buying an additional 3,481 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Price Performance

SLNO opened at $47.06 on Tuesday. The stock’s 50 day simple moving average is $42.44 and its 200 day simple moving average is $42.30. The stock has a market cap of $1.57 billion, a P/E ratio of -17.56 and a beta of -1.40. Soleno Therapeutics has a 1-year low of $3.69 and a 1-year high of $53.82.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Thursday, May 9th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.29). Research analysts expect that Soleno Therapeutics will post -2.36 EPS for the current fiscal year.

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.