Soleno Therapeutics (NASDAQ:SLNO) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Soleno Therapeutics (NASDAQ:SLNO) had its target price hoisted by investment analysts at Stifel Nicolaus from $74.00 to $108.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 50.02% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Robert W. Baird increased their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Laidlaw lifted their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a report on Thursday. HC Wainwright restated a “buy” rating and issued a $70.00 price target on shares of Soleno Therapeutics in a research note on Monday, March 3rd. Finally, Guggenheim reiterated a “buy” rating and set a $81.00 price objective (up previously from $70.00) on shares of Soleno Therapeutics in a research note on Friday. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $94.57.

Soleno Therapeutics Stock Performance

Shares of NASDAQ:SLNO opened at $71.99 on Friday. The firm has a market capitalization of $3.30 billion, a P/E ratio of -21.68 and a beta of -1.70. The stock has a 50 day moving average price of $48.94 and a 200-day moving average price of $50.07. Soleno Therapeutics has a 52-week low of $36.61 and a 52-week high of $73.97.

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

Insider Buying and Selling

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 10,937 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $496,649.17. Following the completion of the transaction, the chief executive officer now owns 708,616 shares of the company’s stock, valued at approximately $32,178,252.56. The trade was a 1.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kristen Yen sold 2,340 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $46.18, for a total transaction of $108,061.20. Following the sale, the insider now directly owns 76,605 shares in the company, valued at approximately $3,537,618.90. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,360 shares of company stock worth $790,119 in the last three months. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its holdings in shares of Soleno Therapeutics by 25.9% in the third quarter. Victory Capital Management Inc. now owns 13,509 shares of the company’s stock worth $682,000 after acquiring an additional 2,782 shares during the period. Intech Investment Management LLC bought a new stake in shares of Soleno Therapeutics during the 3rd quarter valued at about $262,000. Charles Schwab Investment Management Inc. increased its position in shares of Soleno Therapeutics by 208.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 192,597 shares of the company’s stock valued at $9,724,000 after purchasing an additional 130,080 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Soleno Therapeutics by 6.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 52,634 shares of the company’s stock worth $2,657,000 after purchasing an additional 3,226 shares during the period. Finally, FMR LLC boosted its holdings in shares of Soleno Therapeutics by 6,048,754.5% in the third quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after buying an additional 665,363 shares during the last quarter. 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.