Soleno Therapeutics (NASDAQ:SLNO) Given New $59.00 Price Target at Oppenheimer

Soleno Therapeutics (NASDAQ:SLNO) had its price objective decreased by Oppenheimer from $65.00 to $59.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 35.63% from the company’s current price.

Several other brokerages have also recently weighed in on SLNO. Stifel Nicolaus initiated coverage on Soleno Therapeutics in a research note on Tuesday, January 23rd. They set a “buy” rating and a $63.00 price objective on the stock. Robert W. Baird started coverage on shares of Soleno Therapeutics in a research report on Friday, May 10th. They set an “outperform” rating and a $72.00 target price on the stock. Finally, Piper Sandler started coverage on Soleno Therapeutics in a report on Monday, February 5th. They issued an “overweight” rating and a $93.00 target price for the company. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Soleno Therapeutics currently has an average rating of “Buy” and a consensus target price of $60.33.

Soleno Therapeutics Trading Up 1.6 %

Soleno Therapeutics stock opened at $43.50 on Monday. The firm’s fifty day moving average price is $42.36 and its two-hundred day moving average price is $39.70. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -16.23 and a beta of -1.51. Soleno Therapeutics has a 1-year low of $3.69 and a 1-year high of $53.82.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). On average, research analysts forecast that Soleno Therapeutics will post -1.23 EPS for the current year.

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 18,980 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $41.34, for a total value of $784,633.20. Following the sale, the chief executive officer now directly owns 152,790 shares in the company, valued at $6,316,338.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Bhatnagar Anish sold 18,980 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $41.34, for a total transaction of $784,633.20. Following the completion of the transaction, the chief executive officer now owns 152,790 shares in the company, valued at approximately $6,316,338.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James H. Mackaness sold 5,175 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $41.34, for a total value of $213,934.50. Following the completion of the sale, the chief financial officer now owns 62,953 shares in the company, valued at $2,602,477.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 776,373 shares of company stock valued at $36,940,260. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Soleno Therapeutics

A number of large investors have recently made changes to their positions in the stock. Vivo Capital LLC increased its holdings in Soleno Therapeutics by 162.8% during the 4th quarter. Vivo Capital LLC now owns 8,418,093 shares of the company’s stock worth $338,828,000 after acquiring an additional 5,215,000 shares during the period. Carlyle Group Inc. raised its position in shares of Soleno Therapeutics by 24.6% in the fourth quarter. Carlyle Group Inc. now owns 2,857,804 shares of the company’s stock worth $115,039,000 after buying an additional 564,242 shares in the last quarter. Walleye Capital LLC bought a new stake in Soleno Therapeutics during the third quarter valued at $1,365,000. Schonfeld Strategic Advisors LLC purchased a new position in Soleno Therapeutics during the third quarter worth about $685,000. Finally, Silverarc Capital Management LLC purchased a new position in Soleno Therapeutics during the third quarter worth about $10,919,000. 97.42% of the stock is owned by institutional investors.

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.