Robert W. Baird Forecasts Strong Price Appreciation for Soleno Therapeutics (NASDAQ:SLNO) Stock

Soleno Therapeutics (NASDAQ:SLNO) had its target price boosted by investment analysts at Robert W. Baird from $105.00 to $121.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 48.34% from the stock’s previous close.

SLNO has been the topic of a number of other research reports. UBS Group set a $105.00 price objective on shares of Soleno Therapeutics in a research report on Thursday, March 27th. Piper Sandler upped their price target on Soleno Therapeutics from $93.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Cantor Fitzgerald raised their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Laidlaw boosted their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Finally, Guggenheim increased their target price on Soleno Therapeutics from $81.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $108.70.

Soleno Therapeutics Price Performance

Shares of SLNO opened at $81.57 on Friday. The firm has a market cap of $4.11 billion, a PE ratio of -17.66 and a beta of -2.63. Soleno Therapeutics has a 52-week low of $41.50 and a 52-week high of $90.32. The business’s 50 day moving average price is $78.84 and its two-hundred day moving average price is $62.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 19.64 and a current ratio of 19.64.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($1.14) by $0.19. On average, equities analysts anticipate that Soleno Therapeutics will post -3.72 EPS for the current year.

Insider Activity

In related news, insider Patricia C. Hirano sold 3,830 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $82.76, for a total value of $316,970.80. Following the completion of the sale, the insider directly owned 13,206 shares of the company’s stock, valued at approximately $1,092,928.56. This represents a 22.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.40% of the stock is currently owned by insiders.

Institutional Trading of Soleno Therapeutics

Several institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. boosted its position in Soleno Therapeutics by 58.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 4,392,696 shares of the company’s stock worth $313,858,000 after purchasing an additional 1,616,720 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Soleno Therapeutics by 27.1% in the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock worth $233,130,000 after buying an additional 1,107,166 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Soleno Therapeutics by 47.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,400,418 shares of the company’s stock valued at $171,510,000 after buying an additional 769,700 shares during the period. Nantahala Capital Management LLC grew its position in Soleno Therapeutics by 20.1% during the fourth quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock valued at $176,607,000 after buying an additional 658,518 shares during the period. Finally, Invesco Ltd. increased its holdings in Soleno Therapeutics by 3,789.4% during the first quarter. Invesco Ltd. now owns 467,193 shares of the company’s stock worth $33,381,000 after buying an additional 455,181 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.

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.