Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Average Recommendation of “Buy” by Brokerages

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have earned a consensus rating of “Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $74.83.

A number of brokerages have recently weighed in on SLNO. Stifel Nicolaus restated a “buy” rating and set a $74.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. HC Wainwright reissued a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Oppenheimer raised their price target 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. Robert W. Baird reiterated an “outperform” rating and set a $72.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a research report on Friday, September 20th.

Soleno Therapeutics Stock Down 0.0 %

Shares of SLNO opened at $45.18 on Friday. The company has a 50 day moving average of $52.93 and a two-hundred day moving average of $49.08. Soleno Therapeutics has a twelve month low of $35.70 and a twelve month high of $60.92. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -13.61 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). On average, sell-side analysts expect that Soleno Therapeutics will post -3.7 EPS for the current year.

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, CFO James H. Mackaness sold 8,077 shares of Soleno Therapeutics stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $399,246.11. Following the completion of the transaction, the chief financial officer now owns 119,172 shares of the company’s stock, valued at approximately $5,890,671.96. The trade was a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bhatnagar Anish sold 21,633 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 719,553 shares of the company’s stock, valued at approximately $35,567,504.79. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,818 shares of company stock worth $1,622,194 over the last 90 days. 12.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Soleno Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC boosted its position in Soleno Therapeutics by 21.5% during the third quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company’s stock worth $206,016,000 after purchasing an additional 722,226 shares in the last quarter. Nantahala Capital Management LLC raised its stake in shares of Soleno Therapeutics by 27.9% during the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock worth $125,750,000 after buying an additional 671,728 shares during the period. FMR LLC lifted its position in shares of Soleno Therapeutics by 6,048,754.5% during the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after buying an additional 665,363 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in Soleno Therapeutics in the 3rd quarter valued at $25,028,000. Finally, Avoro Capital Advisors LLC increased its holdings in Soleno Therapeutics by 28.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company’s stock worth $85,340,000 after acquiring an additional 466,666 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

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.