Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO – Get Free Report) have received an average recommendation of “Buy” from the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $106.78.
Several analysts recently commented on the stock. HC Wainwright reissued a “buy” rating and set a $100.00 target price on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Robert W. Baird lifted their price target on Soleno Therapeutics from $102.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. UBS Group set a $105.00 price target on Soleno Therapeutics in a research report on Thursday, March 27th. Piper Sandler raised their price objective on Soleno Therapeutics from $93.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Finally, Cantor Fitzgerald lifted their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th.
View Our Latest Analysis on Soleno Therapeutics
Soleno Therapeutics Stock Performance
Soleno Therapeutics (NASDAQ:SLNO – Get Free Report) last announced its earnings results 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. Analysts predict that Soleno Therapeutics will post -3.72 EPS for the current year.
Insiders Place Their Bets
In related news, insider Patricia C. Hirano sold 3,782 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total value of $265,156.02. Following the transaction, the insider now directly owns 27,036 shares in the company, valued at $1,895,493.96. This represents a 12.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Matthew Pauls sold 5,937 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $71.55, for a total value of $424,792.35. Following the completion of the transaction, the director now directly owns 6,500 shares in the company, valued at approximately $465,075. This trade represents a 47.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 942,672 shares of company stock valued at $64,058,781 in the last 90 days. 6.40% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Soleno Therapeutics
Several institutional investors and hedge funds have recently modified their holdings of SLNO. AlphaQuest LLC raised its holdings in shares of Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock worth $32,000 after acquiring an additional 658 shares during the period. US Bancorp DE bought a new position in Soleno Therapeutics during the 4th quarter worth about $34,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in shares of Soleno Therapeutics in the 4th quarter valued at about $81,000. Summit Investment Advisors Inc. raised its stake in shares of Soleno Therapeutics by 24.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company’s stock valued at $120,000 after purchasing an additional 522 shares during the period. Finally, Quarry LP bought a new stake in shares of Soleno Therapeutics in the first quarter valued at about $121,000. 97.42% of the stock is currently 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.
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