HC Wainwright Issues Positive Forecast for Soleno Therapeutics (NASDAQ:SLNO) Stock Price

Soleno Therapeutics (NASDAQ:SLNO) had its price target upped by HC Wainwright from $70.00 to $100.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the company. Guggenheim reaffirmed a “buy” rating and set a $81.00 price target (up previously from $70.00) on shares of Soleno Therapeutics in a research report on Friday. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Stifel Nicolaus boosted their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research report on Friday. Laidlaw upped their target price on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Finally, Cantor Fitzgerald raised their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $98.86.

Soleno Therapeutics Price Performance

Shares of Soleno Therapeutics stock opened at $71.45 on Monday. Soleno Therapeutics has a one year low of $36.61 and a one year high of $73.97. The business’s 50 day simple moving average is $49.44 and its two-hundred day simple moving average is $50.23. The stock has a market capitalization of $3.28 billion, a P/E ratio of -21.52 and a beta of -1.70.

Soleno Therapeutics (NASDAQ:SLNO) last issued its 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). Sell-side analysts expect that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Insider Activity at Soleno Therapeutics

In other news, VP Michael F. Huang sold 14,583 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $69.51, for a total transaction of $1,013,664.33. Following the completion of the transaction, the vice president now directly owns 36,817 shares in the company, valued at $2,559,149.67. This trade represents a 28.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kristen Yen sold 2,340 shares of Soleno Therapeutics stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $46.18, for a total value 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 approximately $3,537,618.90. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 956,250 shares of company stock valued at $64,583,745 in the last 90 days. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

A number of institutional investors have recently made changes to their positions in SLNO. FMR LLC lifted its position in Soleno Therapeutics by 6,048,754.5% in the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after acquiring an additional 665,363 shares in the last quarter. Barclays PLC lifted its holdings in shares of Soleno Therapeutics by 149.3% during the third quarter. Barclays PLC now owns 52,545 shares of the company’s stock valued at $2,652,000 after purchasing an additional 31,467 shares in the last quarter. Emerald Advisers LLC lifted its holdings in shares of Soleno Therapeutics by 85.4% during the fourth quarter. Emerald Advisers LLC now owns 580,919 shares of the company’s stock valued at $26,112,000 after purchasing an additional 267,585 shares in the last quarter. State Street Corp boosted its position in shares of Soleno Therapeutics by 14.2% during the third quarter. State Street Corp now owns 1,142,169 shares of the company’s stock valued at $57,668,000 after buying an additional 142,033 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Soleno Therapeutics by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company’s stock worth $9,779,000 after buying an additional 24,953 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.