Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Consensus Rating of “Buy” by Brokerages

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have earned a consensus rating of “Buy” from the seven research firms that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $74.83.

Several equities research analysts recently issued reports on SLNO shares. Stifel Nicolaus boosted their price target on Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. HC Wainwright reiterated a “buy” rating and issued a $70.00 price target on shares of Soleno Therapeutics in a research note on Monday, November 11th. Oppenheimer upped their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $67.00 target price on shares of Soleno Therapeutics in a research note on Friday, September 20th.

Insiders Place Their Bets

In other news, CFO James H. Mackaness sold 6,661 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $47.58, for a total transaction of $316,930.38. Following the completion of the transaction, the chief financial officer now directly owns 134,119 shares in the company, valued at approximately $6,381,382.02. This represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bhatnagar Anish sold 21,633 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $1,069,319.19. Following the completion of the sale, the chief executive officer now owns 719,553 shares of the company’s stock, valued at $35,567,504.79. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 201,362 shares of company stock worth $9,605,517 over the last three months. Insiders own 12.30% of the company’s stock.

Institutional Trading of Soleno Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank acquired a new stake in Soleno Therapeutics in the second quarter valued at $31,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Soleno Therapeutics in the third quarter valued at $155,000. Curi RMB Capital LLC acquired a new stake in Soleno Therapeutics during the 3rd quarter worth about $202,000. Intech Investment Management LLC acquired a new stake in Soleno Therapeutics during the 3rd quarter worth about $262,000. Finally, Fred Alger Management LLC acquired a new stake in Soleno Therapeutics during the 3rd quarter worth about $310,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Soleno Therapeutics Trading Down 1.0 %

Soleno Therapeutics stock opened at $57.22 on Tuesday. Soleno Therapeutics has a 12 month low of $26.38 and a 12 month high of $60.92. The stock’s 50 day moving average is $53.27 and its 200-day moving average is $48.34. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -17.23 and a beta of -1.44.

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, equities research analysts predict that Soleno Therapeutics will post -3.76 earnings per share for the current fiscal year.

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.