Soleno Therapeutics (NASDAQ:SLNO) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Soleno Therapeutics (NASDAQ:SLNO) in a report released on Monday morning,Benzinga reports. The brokerage currently has a $70.00 price objective on the stock.

A number of other research analysts also recently commented on the stock. Stifel Nicolaus increased their price target on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 price target on shares of Soleno Therapeutics in a report on Friday, September 20th. Oppenheimer increased their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $72.00 price target on shares of Soleno Therapeutics in a report on Monday. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Soleno Therapeutics currently has an average rating of “Buy” and a consensus target price of $74.83.

Soleno Therapeutics Stock Down 5.1 %

SLNO opened at $50.00 on Monday. The firm has a 50-day simple moving average of $53.54 and a two-hundred day simple moving average of $48.70. Soleno Therapeutics has a 52 week low of $27.27 and a 52 week high of $60.92. The company has a market capitalization of $2.16 billion, a PE ratio of -15.06 and a beta of -1.44.

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

Insider Buying and Selling

In other news, insider Kristen Yen sold 3,108 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $153,628.44. Following the transaction, the insider now directly owns 81,465 shares of the company’s stock, valued at approximately $4,026,814.95. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Bhatnagar Anish sold 21,633 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 in the company, valued at approximately $35,567,504.79. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,818 shares of company stock valued at $1,622,194 in the last ninety days. 12.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Soleno Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of Soleno Therapeutics during the third quarter valued at approximately $490,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Soleno Therapeutics during the third quarter valued at approximately $656,000. Geode Capital Management LLC boosted its stake in shares of Soleno Therapeutics by 10.5% during the third quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock valued at $27,286,000 after purchasing an additional 51,189 shares in the last quarter. Barclays PLC boosted its stake in shares of 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 in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Soleno Therapeutics by 73.8% during the third 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 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.