Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives Consensus Rating of “Buy” from Brokerages

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have received a consensus rating of “Buy” from the seven analysts that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $71.20.

A number of equities research analysts have commented on the company. Stifel Nicolaus started coverage on Soleno Therapeutics in a report on Wednesday. They set a “buy” rating and a $74.00 price target on the stock. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Robert W. Baird reissued an “outperform” rating and issued a $72.00 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 report on Monday.

Soleno Therapeutics Trading Up 1.2 %

Soleno Therapeutics stock opened at $44.99 on Thursday. Soleno Therapeutics has a 12-month low of $36.61 and a 12-month high of $60.92. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -13.55 and a beta of -1.46. The firm has a 50 day moving average of $47.20 and a 200 day moving average of $49.86.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). On average, analysts predict that Soleno Therapeutics will post -3.72 EPS for the current year.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, CFO James H. Mackaness sold 4,083 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total transaction of $185,409.03. Following the completion of the transaction, the chief financial officer now owns 115,089 shares in the company, valued at $5,226,191.49. This trade represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 directly owns 76,605 shares of the company’s stock, valued at $3,537,618.90. The trade was a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,360 shares of company stock valued at $790,119. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

Several large investors have recently added to or reduced their stakes in SLNO. FMR LLC boosted its holdings in shares of Soleno Therapeutics by 6,048,754.5% in the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after purchasing an additional 665,363 shares during the period. Barclays PLC lifted its position in Soleno Therapeutics by 149.3% in the third quarter. Barclays PLC now owns 52,545 shares of the company’s stock worth $2,652,000 after buying an additional 31,467 shares during the last quarter. State Street Corp boosted its stake in Soleno Therapeutics by 14.2% during the third quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after buying an additional 142,033 shares during the period. Holocene Advisors LP increased its position in Soleno Therapeutics by 10.8% during the third quarter. Holocene Advisors LP now owns 594,364 shares of the company’s stock valued at $30,009,000 after acquiring an additional 57,913 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Soleno Therapeutics by 10.5% in the third quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock valued at $27,286,000 after acquiring an additional 51,189 shares during the period. 97.42% of the stock is 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.