Soleno Therapeutics (NASDAQ:SLNO) Stock Rating Upgraded by Lifesci Capital

Lifesci Capital upgraded shares of Soleno Therapeutics (NASDAQ:SLNO) to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

SLNO has been the subject of a number of other reports. Robert W. Baird reissued an “outperform” rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Oppenheimer increased their price target on Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Soleno Therapeutics has an average rating of “Buy” and an average target price of $74.83.

Soleno Therapeutics Price Performance

Shares of SLNO stock opened at $49.78 on Tuesday. 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 $2.15 billion, a price-to-earnings ratio of -14.99 and a beta of -1.46. The business has a 50 day simple moving average of $47.59 and a 200 day simple moving average of $49.79.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). On average, equities analysts anticipate that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insider Transactions at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 10,937 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $496,649.17. Following the completion of the sale, the chief executive officer now directly owns 708,616 shares of the company’s stock, valued at $32,178,252.56. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kristen Yen sold 2,340 shares of the stock in a transaction 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 completion of the sale, the insider now owns 76,605 shares of the company’s stock, valued at $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 valued at $790,119 in the last three months. 12.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Soleno Therapeutics

A number of hedge funds have recently modified their holdings of SLNO. Avanza Fonder AB purchased a new stake in shares of Soleno Therapeutics during the fourth quarter worth $76,000. Avior Wealth Management LLC purchased a new stake in shares of Soleno Therapeutics during the fourth quarter worth $89,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Soleno Therapeutics during the third quarter worth $155,000. Curi RMB Capital LLC purchased a new stake in shares of Soleno Therapeutics during the third quarter worth $202,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Soleno Therapeutics during the third quarter worth $262,000. 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.