Soleno Therapeutics (NASDAQ:SLNO) Given Buy Rating at Stifel Nicolaus

Soleno Therapeutics (NASDAQ:SLNO)‘s stock had its “buy” rating reiterated by research analysts at Stifel Nicolaus in a report issued on Monday,Briefing.com Automated Import reports. They presently have a $74.00 price target on the stock. Stifel Nicolaus’ price target points to a potential upside of 45.35% from the company’s previous close.

A number of other research firms have also recently weighed in on SLNO. Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 target price on shares of Soleno Therapeutics in a research note on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 price target on shares of Soleno Therapeutics in a research report on Friday, September 20th. HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a report on Monday. 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 investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Soleno Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $74.83.

Soleno Therapeutics Trading Down 3.4 %

Shares of NASDAQ:SLNO traded down $1.80 during trading on Monday, hitting $50.91. 127,109 shares of the company’s stock were exchanged, compared to its average volume of 477,403. The firm has a market cap of $2.20 billion, a P/E ratio of -15.88 and a beta of -1.44. The firm has a 50-day moving average price of $53.51 and a two-hundred day moving average price of $48.67. Soleno Therapeutics has a 1-year low of $27.27 and a 1-year high of $60.92.

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

Insider Activity

In other Soleno Therapeutics news, insider Kristen Yen sold 3,108 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 $153,628.44. Following the transaction, the insider now owns 81,465 shares in the company, valued at approximately $4,026,814.95. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James H. Mackaness sold 8,077 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $399,246.11. Following the transaction, the chief financial officer now owns 119,172 shares in the company, valued at $5,890,671.96. The trade was a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,818 shares of company stock valued at $1,622,194. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

Large investors have recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake in shares of Soleno Therapeutics by 21.5% in the third quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company’s stock valued at $206,016,000 after buying an additional 722,226 shares in the last quarter. Perceptive Advisors LLC boosted its position in Soleno Therapeutics by 4.2% during the 2nd quarter. Perceptive Advisors LLC now owns 3,204,976 shares of the company’s stock worth $130,763,000 after purchasing an additional 130,434 shares during the period. Nantahala Capital Management LLC increased its position in shares of Soleno Therapeutics by 27.9% during the second quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock worth $125,750,000 after acquiring an additional 671,728 shares during the last quarter. Avoro Capital Advisors LLC increased its holdings in Soleno Therapeutics by 28.7% in the second quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company’s stock valued at $85,340,000 after buying an additional 466,666 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Soleno Therapeutics by 14.2% during the third quarter. State Street Corp now owns 1,142,169 shares of the company’s stock valued at $57,668,000 after purchasing an additional 142,033 shares during the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.

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.