Soleno Therapeutics (NASDAQ:SLNO) Price Target Raised to $74.00 at Stifel Nicolaus

Soleno Therapeutics (NASDAQ:SLNO) had its price objective upped by investment analysts at Stifel Nicolaus from $59.00 to $74.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 49.49% from the stock’s previous close.

SLNO has been the subject of several other research reports. HC Wainwright began coverage on Soleno Therapeutics in a research note on Tuesday, September 3rd. They set a “buy” rating and a $70.00 price target for the company. Oppenheimer boosted their price target on Soleno Therapeutics from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 price objective on shares of Soleno Therapeutics in a research report on Friday, September 20th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $68.71.

Soleno Therapeutics Stock Performance

NASDAQ:SLNO traded down $0.99 during mid-day trading on Tuesday, hitting $49.50. 239,314 shares of the stock were exchanged, compared to its average volume of 428,254. Soleno Therapeutics has a fifty-two week low of $21.30 and a fifty-two week high of $55.56. The firm’s 50-day simple moving average is $48.76 and its 200 day simple moving average is $44.93. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -18.41 and a beta of -1.46.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.06. On average, analysts predict that Soleno Therapeutics will post -2.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO James H. Mackaness sold 6,849 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $45.77, for a total value of $313,478.73. Following the completion of the transaction, the chief financial officer now owns 148,914 shares in the company, valued at approximately $6,815,793.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO James H. Mackaness sold 6,849 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $45.77, for a total value of $313,478.73. Following the sale, the chief financial officer now owns 148,914 shares in the company, valued at $6,815,793.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Bhatnagar Anish sold 58,213 shares of Soleno Therapeutics stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $45.77, for a total value of $2,664,409.01. Following the completion of the transaction, the chief executive officer now directly owns 925,321 shares of the company’s stock, valued at $42,351,942.17. The disclosure for this sale can be found here. Over the last quarter, insiders sold 738,623 shares of company stock valued at $35,555,839. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Soleno Therapeutics

Large investors have recently bought and sold shares of the company. Amalgamated Bank purchased a new stake in Soleno Therapeutics during the 2nd quarter worth about $31,000. Victory Capital Management Inc. increased its holdings in shares of Soleno Therapeutics by 26.3% in the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after purchasing an additional 2,236 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Soleno Therapeutics by 22.0% in the 1st 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. California State Teachers Retirement System grew its holdings 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 acquiring an additional 3,481 shares during the period. Finally, Swiss National Bank lifted its position in Soleno Therapeutics by 32.0% during the first quarter. Swiss National Bank now owns 30,100 shares of the company’s stock valued at $1,288,000 after purchasing an additional 7,300 shares in the last quarter. 97.42% of the stock is currently owned by institutional investors.

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.