Soleno Therapeutics (NASDAQ:SLNO) Price Target Raised to $100.00 at HC Wainwright

Soleno Therapeutics (NASDAQ:SLNO) had its target price increased by HC Wainwright from $70.00 to $100.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

SLNO has been the subject of several other research reports. Stifel Nicolaus increased their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Laidlaw lifted their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Cantor Fitzgerald upped their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Guggenheim restated a “buy” rating and set a $81.00 price target (up previously from $70.00) on shares of Soleno Therapeutics in a research note on Friday, March 28th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $98.86.

Soleno Therapeutics Stock Up 7.9 %

Shares of Soleno Therapeutics stock opened at $73.67 on Monday. The business has a 50-day moving average price of $50.32 and a 200 day moving average price of $50.50. Soleno Therapeutics has a twelve month low of $36.61 and a twelve month high of $73.97. The firm has a market cap of $3.38 billion, a PE ratio of -22.19 and a beta of -2.29.

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

Insider Buying and Selling

In other Soleno Therapeutics news, insider Kristen Yen sold 2,340 shares of Soleno Therapeutics 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 transaction, the insider now owns 76,605 shares in the company, valued at $3,537,618.90. This trade represents a 2.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $67.62, for a total value of $47,272,803.90. Following the completion of the transaction, the chief executive officer now directly owns 577,076 shares in the company, valued at $39,021,879.12. This represents a 54.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 945,012 shares of company stock worth $64,166,842 in the last three months. Corporate insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Soleno Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. AlphaQuest LLC grew its stake in shares of Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after acquiring an additional 658 shares in the last quarter. US Bancorp DE acquired a new position in Soleno Therapeutics during the 4th quarter valued at about $34,000. Avanza Fonder AB acquired a new stake in shares of Soleno Therapeutics in the 4th quarter worth approximately $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in shares of Soleno Therapeutics during the fourth quarter valued at approximately $81,000. Finally, Avior Wealth Management LLC acquired a new position in shares of Soleno Therapeutics during the fourth quarter valued at approximately $89,000. Institutional investors and hedge funds 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.