Soleno Therapeutics (NASDAQ:SLNO) Given New $123.00 Price Target at Cantor Fitzgerald

Soleno Therapeutics (NASDAQ:SLNO) had its target price upped by Cantor Fitzgerald from $67.00 to $123.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus began coverage on Soleno Therapeutics in a research report on Wednesday, March 5th. They set a “buy” rating and a $74.00 target price for the company. Robert W. Baird upped their price objective on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, HC Wainwright reissued a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Soleno Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $91.17.

Soleno Therapeutics Trading Up 37.6 %

Soleno Therapeutics stock opened at $67.39 on Thursday. Soleno Therapeutics has a 1-year low of $36.61 and a 1-year high of $72.96. The firm’s fifty day simple moving average is $48.44 and its 200-day simple moving average is $49.90. The company has a market capitalization of $3.09 billion, a P/E ratio of -20.30 and a beta of -1.70.

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

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 10,937 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 708,616 shares in the company, valued at approximately $32,178,252.56. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $46.18, for a total value of $108,061.20. Following the sale, the insider now owns 76,605 shares in the company, valued at approximately $3,537,618.90. This represents a 2.96 % decrease in their ownership of the stock. 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 ninety days. 12.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Soleno Therapeutics

Institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC raised its stake in shares of Soleno Therapeutics by 27.1% in the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock valued at $233,130,000 after buying an additional 1,107,166 shares in the last quarter. FMR LLC increased its stake in Soleno Therapeutics by 6,048,754.5% in the third 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 during the period. Nantahala Capital Management LLC raised its position in Soleno Therapeutics by 20.1% in the fourth quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock worth $176,607,000 after purchasing an additional 658,518 shares in the last quarter. Avoro Capital Advisors LLC lifted its stake in Soleno Therapeutics by 15.8% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock worth $113,499,000 after purchasing an additional 344,000 shares during the period. Finally, Vestal Point Capital LP lifted its stake in Soleno Therapeutics by 47.2% during the fourth quarter. Vestal Point Capital LP now owns 1,060,000 shares of the company’s stock worth $47,647,000 after purchasing an additional 340,000 shares during the period. 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.