Lifesci Capital Upgrades Soleno Therapeutics (NASDAQ:SLNO) to “Strong-Buy”

Soleno Therapeutics (NASDAQ:SLNO) was upgraded by equities researchers at Lifesci Capital to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other analysts have also weighed in on the company. Robert W. Baird reissued an “outperform” rating and set a $72.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Oppenheimer upped 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. 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Soleno Therapeutics has an average rating of “Buy” and a consensus target price of $71.20.

Soleno Therapeutics Stock Up 2.5 %

NASDAQ SLNO opened at $51.03 on Tuesday. The company has a 50-day simple moving average of $47.42 and a two-hundred day simple moving average of $49.81. Soleno Therapeutics has a 12-month low of $36.61 and a 12-month high of $60.92. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -15.37 and a beta of -1.46.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($1.22). Equities analysts expect that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Insider Transactions at Soleno Therapeutics

In related 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 value of $108,061.20. Following the sale, the insider now directly owns 76,605 shares of the company’s stock, valued at $3,537,618.90. This represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Bhatnagar Anish sold 10,937 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $496,649.17. Following the transaction, the chief executive officer now directly owns 708,616 shares of the company’s stock, valued at $32,178,252.56. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,360 shares of company stock valued at $790,119. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Soleno Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. US Bancorp DE purchased a new position in Soleno Therapeutics during the 4th quarter valued at about $34,000. Bank of New York Mellon Corp lifted its holdings in shares of Soleno Therapeutics by 6.7% during the fourth quarter. Bank of New York Mellon Corp now owns 68,015 shares of the company’s stock valued at $3,057,000 after purchasing an additional 4,260 shares during the last quarter. HealthInvest Partners AB lifted its holdings in shares of Soleno Therapeutics by 17.2% during the fourth quarter. HealthInvest Partners AB now owns 30,940 shares of the company’s stock valued at $1,391,000 after purchasing an additional 4,550 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Soleno Therapeutics in the 4th quarter worth approximately $15,273,000. Finally, New York State Common Retirement Fund grew its stake in shares of Soleno Therapeutics by 13.2% in the 4th quarter. New York State Common Retirement Fund now owns 7,717 shares of the company’s stock worth $347,000 after buying an additional 900 shares during the last quarter. 97.42% of the stock is 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.