Soleno Therapeutics (NASDAQ:SLNO) Coverage Initiated at TD Cowen

Analysts at TD Cowen began coverage on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research note issued on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $110.00 price target on the stock. TD Cowen’s target price would suggest a potential upside of 30.69% from the company’s current price.

Several other equities research analysts have also commented on SLNO. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Piper Sandler upped their target price on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Laidlaw increased their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Stifel Nicolaus increased their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Finally, Robert W. Baird increased their price objective on shares of Soleno Therapeutics from $102.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Nine 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, the company presently has an average rating of “Buy” and a consensus price target of $107.10.

Soleno Therapeutics Trading Up 3.4%

NASDAQ:SLNO opened at $84.17 on Monday. Soleno Therapeutics has a one year low of $36.93 and a one year high of $85.36. The company has a debt-to-equity ratio of 0.21, a current ratio of 19.64 and a quick ratio of 19.64. The company’s 50-day simple moving average is $75.73 and its 200 day simple moving average is $59.33. The firm has a market capitalization of $4.24 billion, a P/E ratio of -18.22 and a beta of -2.69.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.19. As a group, analysts forecast that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Patricia C. Hirano sold 3,782 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total transaction of $265,156.02. Following the completion of the transaction, the insider now directly owns 27,036 shares of the company’s stock, valued at approximately $1,895,493.96. This trade represents a 12.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Bhatnagar Anish sold 699,095 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the transaction, the chief executive officer now directly owns 577,076 shares of the company’s stock, valued at $39,021,879.12. The trade was a 54.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 942,672 shares of company stock worth $64,058,781. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Soleno Therapeutics

Several institutional investors have recently bought and sold shares of the business. AlphaQuest LLC lifted its position in Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares during the last quarter. US Bancorp DE bought a new position in Soleno Therapeutics during the fourth quarter valued at $34,000. Quarry LP bought a new position in Soleno Therapeutics during the first quarter valued at $121,000. Springhill Fund Asset Management HK Co Ltd bought a new stake in shares of Soleno Therapeutics in the 4th quarter worth about $81,000. Finally, Avanza Fonder AB lifted its holdings in shares of Soleno Therapeutics by 14.8% in the 1st quarter. Avanza Fonder AB now owns 1,951 shares of the company’s stock worth $144,000 after acquiring an additional 251 shares during the last quarter. 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.