Stifel Nicolaus Increases Soleno Therapeutics (NASDAQ:SLNO) Price Target to $74.00

Soleno Therapeutics (NASDAQ:SLNO) had its target price increased by equities research analysts at Stifel Nicolaus from $59.00 to $74.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 48.95% from the company’s current price.

A number of other brokerages have also commented on SLNO. HC Wainwright initiated coverage on Soleno Therapeutics in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $70.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 price objective on shares of Soleno Therapeutics in a report on Friday, September 20th. Finally, Oppenheimer raised their target price on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $68.71.

Soleno Therapeutics Trading Up 0.1 %

Shares of Soleno Therapeutics stock opened at $49.68 on Tuesday. The firm’s 50 day simple moving average is $48.81 and its two-hundred day simple moving average is $45.01. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -18.54 and a beta of -1.46. Soleno Therapeutics has a 12-month low of $21.30 and a 12-month high of $55.56.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results on Wednesday, August 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.06. On average, sell-side analysts predict that Soleno Therapeutics will post -2.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 58,213 shares of Soleno Therapeutics stock in a transaction on Monday, August 5th. The shares were sold at an average price of $45.77, for a total value of $2,664,409.01. Following the completion of the transaction, the chief executive officer now owns 925,321 shares of the company’s stock, valued at $42,351,942.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Bhatnagar Anish sold 58,213 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $45.77, for a total transaction of $2,664,409.01. Following the sale, the chief executive officer now directly owns 925,321 shares in the company, valued at approximately $42,351,942.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Vivo Opportunity, Llc sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $47.22, for a total value of $4,722,000.00. Following the completion of the transaction, the insider now directly owns 6,291,851 shares of the company’s stock, valued at approximately $297,101,204.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 738,623 shares of company stock valued at $35,555,839. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank acquired a new stake in shares of Soleno Therapeutics in the second quarter valued at about $31,000. Victory Capital Management Inc. raised its position in shares of Soleno Therapeutics by 26.3% during the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after purchasing an additional 2,236 shares during the last quarter. Sei Investments Co. boosted its holdings in Soleno Therapeutics by 22.0% in the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock worth $538,000 after buying an additional 2,264 shares during the last quarter. California State Teachers Retirement System increased its stake in Soleno Therapeutics by 33.8% during the 1st quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock worth $590,000 after buying an additional 3,481 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Soleno Therapeutics by 32.0% during the first quarter. Swiss National Bank now owns 30,100 shares of the company’s stock valued at $1,288,000 after acquiring an additional 7,300 shares during the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

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.