Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives Average Recommendation of “Buy” from Analysts

Soleno Therapeutics, Inc. (NASDAQ:SLNO) has received an average rating of “Buy” from the seven brokerages that are covering the firm, MarketBeat.com 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 price objective among brokerages that have updated their coverage on the stock in the last year is $74.83.

A number of research firms recently weighed in on SLNO. HC Wainwright reissued a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Robert W. Baird reissued an “outperform” rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Oppenheimer lifted their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a 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 report on Monday, December 2nd.

Insiders Place Their Bets

In other news, insider Kristen Yen sold 2,340 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the sale, the insider now directly owns 76,605 shares in the company, valued at approximately $3,537,618.90. This represents a 2.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James H. Mackaness sold 4,083 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was 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 owns 115,089 shares in the company, valued at $5,226,191.49. The trade was a 3.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,360 shares of company stock worth $790,119 in the last quarter. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

A number of large investors have recently bought and sold shares of the company. Avior Wealth Management LLC bought a new stake in shares of Soleno Therapeutics during the 4th quarter worth approximately $89,000. Avanza Fonder AB bought a new stake in Soleno Therapeutics during the fourth quarter worth $76,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Soleno Therapeutics by 3.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 37,296 shares of the company’s stock valued at $1,676,000 after purchasing an additional 1,248 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Soleno Therapeutics by 35.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company’s stock valued at $703,000 after purchasing an additional 3,666 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Soleno Therapeutics during the 3rd quarter worth $490,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Soleno Therapeutics Trading Up 4.9 %

NASDAQ SLNO opened at $49.17 on Wednesday. The firm’s fifty day moving average price is $48.78 and its two-hundred day moving average price is $49.59. Soleno Therapeutics has a 1 year low of $36.61 and a 1 year high of $60.92. The firm has a market capitalization of $2.12 billion, a P/E ratio of -14.81 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results 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, research analysts anticipate that Soleno Therapeutics will post -3.72 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.