Soleno Therapeutics’ (SLNO) “Outperform” Rating Reiterated at Robert W. Baird

Robert W. Baird reaffirmed their outperform rating on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $72.00 price objective on the stock.

SLNO has been the topic of a number of other reports. Stifel Nicolaus boosted their target price on Soleno Therapeutics from $59.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $67.00 price objective on shares of Soleno Therapeutics in a report on Friday, September 20th. HC Wainwright reiterated a “buy” rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a report on Monday, November 11th. Finally, Oppenheimer upped their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Soleno Therapeutics has an average rating of “Buy” and a consensus target price of $74.83.

Soleno Therapeutics Price Performance

Soleno Therapeutics stock opened at $50.67 on Monday. The firm has a market capitalization of $2.18 billion, a PE ratio of -15.26 and a beta of -1.47. The company’s 50-day moving average is $53.67 and its 200-day moving average is $48.75. Soleno Therapeutics has a fifty-two week low of $27.27 and a fifty-two week high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). As a group, analysts expect that Soleno Therapeutics will post -3.76 EPS for the current year.

Insider Transactions at Soleno Therapeutics

In other news, insider Kristen Yen sold 3,108 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $153,628.44. Following the completion of the transaction, the insider now directly owns 81,465 shares in the company, valued at approximately $4,026,814.95. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James H. Mackaness sold 8,077 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $399,246.11. Following the sale, the chief financial officer now owns 119,172 shares in the company, valued at $5,890,671.96. This represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,818 shares of company stock valued at $1,622,194. 12.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Soleno Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLNO. Amalgamated Bank acquired a new position in shares of Soleno Therapeutics during the 2nd quarter worth $31,000. Victory Capital Management Inc. grew its position in Soleno Therapeutics by 26.3% in the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock valued at $438,000 after acquiring an additional 2,236 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Soleno Therapeutics in the third quarter valued at about $155,000. The Manufacturers Life Insurance Company raised its stake in Soleno Therapeutics by 6.5% during the third quarter. The Manufacturers Life Insurance Company now owns 52,634 shares of the company’s stock worth $2,657,000 after acquiring an additional 3,226 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Soleno Therapeutics by 33.8% in the first quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock worth $590,000 after acquiring an additional 3,481 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors.

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.