Brokerages Set Soleno Therapeutics, Inc. (NASDAQ:SLNO) Price Target at $60.33

Soleno Therapeutics, Inc. (NASDAQ:SLNO) has earned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $60.33.

SLNO has been the subject of a number of recent research reports. Baird R W raised Soleno Therapeutics to a “strong-buy” rating in a research report on Friday, May 10th. Oppenheimer cut their price target on Soleno Therapeutics from $65.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. Finally, Robert W. Baird began coverage on shares of Soleno Therapeutics in a research report on Friday, May 10th. They issued an “outperform” rating and a $72.00 price objective on the stock.

Insider Transactions at Soleno Therapeutics

In other news, insider Kristen Yen sold 2,170 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $90,141.80. Following the completion of the sale, the insider now directly owns 21,252 shares of the company’s stock, valued at approximately $882,808.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Vivo Opportunity, Llc sold 750,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $47.80, for a total transaction of $35,850,000.00. Following the transaction, the insider now directly owns 7,668,093 shares of the company’s stock, valued at approximately $366,534,845.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kristen Yen sold 2,170 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $41.54, for a total transaction of $90,141.80. Following the completion of the sale, the insider now owns 21,252 shares of the company’s stock, valued at approximately $882,808.08. The disclosure for this sale can be found here. In the last three months, insiders sold 778,616 shares of company stock valued at $37,038,709. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Soleno Therapeutics during the 3rd quarter worth approximately $685,000. 683 Capital Management LLC acquired a new stake in Soleno Therapeutics in the third quarter valued at $2,567,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Soleno Therapeutics in the third quarter valued at $39,160,000. RA Capital Management L.P. acquired a new position in shares of Soleno Therapeutics during the 3rd quarter worth $36,563,000. Finally, Walleye Capital LLC acquired a new stake in Soleno Therapeutics in the 3rd quarter valued at about $1,365,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Soleno Therapeutics Price Performance

SLNO stock opened at $42.03 on Friday. Soleno Therapeutics has a 12 month low of $3.69 and a 12 month high of $53.82. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -15.68 and a beta of -1.39. The company has a fifty day moving average price of $43.34 and a 200 day moving average price of $43.31.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Thursday, May 9th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.29). As a group, analysts anticipate that Soleno Therapeutics will post -2.36 earnings per share for the current year.

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.