Soleno Therapeutics (NASDAQ:SLNO) Given “Outperform” Rating at Robert W. Baird

Robert W. Baird restated their outperform rating on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research report released on Monday morning, Marketbeat Ratings reports. The firm currently has a $72.00 price objective on the stock.

Several other research analysts have also recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a report on Monday, November 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $67.00 price objective on shares of Soleno Therapeutics in a research note on Friday, September 20th. Oppenheimer raised their price objective 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 upped their target price 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. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Soleno Therapeutics has an average rating of “Buy” and an average target price of $74.83.

Soleno Therapeutics Stock Down 5.1 %

Shares of SLNO opened at $50.00 on Monday. Soleno Therapeutics has a 52 week low of $27.27 and a 52 week high of $60.92. The stock has a market cap of $2.16 billion, a P/E ratio of -15.06 and a beta of -1.44. The business’s 50 day moving average price is $53.54 and its 200-day moving average price is $48.70.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). On average, equities analysts anticipate that Soleno Therapeutics will post -3.76 EPS for the current year.

Insider Buying and Selling at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 21,633 shares of the company’s 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 sale, the chief executive officer now directly owns 719,553 shares in the company, valued at approximately $35,567,504.79. This represents a 2.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kristen Yen sold 3,108 shares of Soleno Therapeutics stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $153,628.44. Following the completion of the transaction, the insider now owns 81,465 shares of the company’s stock, valued at approximately $4,026,814.95. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,818 shares of company stock valued at $1,622,194 in the last three months. 12.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Soleno Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLNO. Virtu Financial LLC bought a new position in shares of Soleno Therapeutics during the 3rd quarter valued at approximately $490,000. Teachers Retirement System of The State of Kentucky bought a new stake in Soleno Therapeutics in the third quarter worth $656,000. Geode Capital Management LLC boosted 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 buying an additional 51,189 shares during the period. Barclays PLC increased 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 acquiring an additional 31,467 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Soleno Therapeutics by 73.8% in the third quarter. Wellington Management Group LLP now owns 683,170 shares of the company’s stock valued at $34,493,000 after acquiring an additional 290,135 shares during the period. 97.42% of the stock is currently owned by hedge funds and other 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.