Soleno Therapeutics (NASDAQ:SLNO) Given New $102.00 Price Target at Robert W. Baird

Soleno Therapeutics (NASDAQ:SLNO) had its price objective hoisted by Robert W. Baird from $72.00 to $102.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts also recently weighed in on the company. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Stifel Nicolaus started coverage on Soleno Therapeutics in a report on Wednesday, March 5th. They set a “buy” rating and a $74.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Soleno Therapeutics in a research note on Monday, March 3rd. Six investment 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, the stock presently has a consensus rating of “Buy” and a consensus price target of $91.17.

Soleno Therapeutics Price Performance

Shares of NASDAQ:SLNO opened at $67.39 on Thursday. The stock has a market cap of $3.09 billion, a P/E ratio of -20.30 and a beta of -1.70. The firm has a fifty day moving average price of $48.44 and a 200 day moving average price of $49.90. Soleno Therapeutics has a 1-year low of $36.61 and a 1-year high of $72.96.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). Sell-side analysts expect that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 10,937 shares of the stock in a transaction dated Thursday, January 2nd. The shares were 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 directly owns 708,616 shares of the company’s stock, valued at approximately $32,178,252.56. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kristen Yen sold 2,340 shares of the business’s stock in a transaction that occurred 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 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 quarter, insiders sold 17,360 shares of company stock valued at $790,119. 12.30% of the stock is owned by company insiders.

Institutional Trading of Soleno Therapeutics

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Soleno Therapeutics by 14.5% during the 4th quarter. Wellington Management Group LLP now owns 782,265 shares of the company’s stock worth $35,163,000 after buying an additional 99,095 shares during the last quarter. California State Teachers Retirement System increased its holdings in Soleno Therapeutics by 23.6% during the 4th quarter. California State Teachers Retirement System now owns 21,977 shares of the company’s stock valued at $988,000 after acquiring an additional 4,201 shares in the last quarter. Polar Asset Management Partners Inc. raised its position in Soleno Therapeutics by 296.8% during the fourth quarter. Polar Asset Management Partners Inc. now owns 125,400 shares of the company’s stock worth $5,637,000 after acquiring an additional 93,800 shares during the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new stake in shares of Soleno Therapeutics in the fourth quarter valued at about $13,451,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Soleno Therapeutics by 24.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,504 shares of the company’s stock valued at $1,236,000 after purchasing an additional 5,462 shares during the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

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.