Soleno Therapeutics’ (SLNO) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research report report published on Monday,Benzinga reports. HC Wainwright currently has a $70.00 target price on the stock.

Other research analysts have also issued research reports about the stock. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. 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, Stifel Nicolaus reiterated a “buy” rating and set a $74.00 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $71.20.

Soleno Therapeutics Trading Down 6.2 %

Shares of NASDAQ:SLNO opened at $45.80 on Monday. The firm’s 50 day moving average is $47.20 and its two-hundred day moving average is $49.92. Soleno Therapeutics has a 52 week low of $36.61 and a 52 week high of $60.92. The firm has a market capitalization of $1.97 billion, a P/E ratio of -13.80 and a beta of -1.46.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.41). Analysts predict that Soleno Therapeutics will post -3.72 EPS for the current year.

Insiders Place Their Bets

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 10,937 shares of Soleno Therapeutics stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total transaction of $496,649.17. Following the completion of the sale, the chief executive officer now owns 708,616 shares of the company’s stock, valued at $32,178,252.56. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kristen Yen sold 2,340 shares of Soleno Therapeutics stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the transaction, the insider now owns 76,605 shares in the company, valued at $3,537,618.90. This trade represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,360 shares of company stock worth $790,119. 12.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SLNO. Harbor Capital Advisors Inc. bought a new position in shares of Soleno Therapeutics during the 3rd quarter worth about $1,820,000. Victory Capital Management Inc. increased its stake in Soleno Therapeutics by 25.9% in the third quarter. Victory Capital Management Inc. now owns 13,509 shares of the company’s stock valued at $682,000 after acquiring an additional 2,782 shares during the period. Curi RMB Capital LLC bought a new stake in Soleno Therapeutics in the third quarter valued at about $202,000. Intech Investment Management LLC bought a new stake in Soleno Therapeutics in the third quarter valued at about $262,000. Finally, HealthInvest Partners AB bought a new stake in Soleno Therapeutics in the third quarter valued at about $1,332,000. 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.