Oppenheimer Increases Soleno Therapeutics (NASDAQ:SLNO) Price Target to $73.00

by · The Cerbat Gem

Soleno Therapeutics (NASDAQ:SLNO – Get Free Report) had its target price boosted by equities research analysts at Oppenheimer from $65.00 to $73.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 32.01% from the company’s previous close.

Several other analysts have also weighed in on the company. HC Wainwright began coverage on Soleno Therapeutics in a report on Tuesday, September 3rd. They set a “buy” rating and a $70.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a report on Friday, September 20th. Finally, Stifel Nicolaus lifted their price objective on Soleno Therapeutics from $59.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $69.86.

Read Our Latest Stock Report on Soleno Therapeutics

Soleno Therapeutics Stock Performance

NASDAQ SLNO opened at $55.30 on Monday. Soleno Therapeutics has a twelve month low of $21.30 and a twelve month high of $56.81. The stock has a market cap of $1.85 billion, a PE ratio of -20.63 and a beta of -1.45. The firm has a 50-day simple moving average of $50.55 and a 200 day simple moving average of $46.23.

Soleno Therapeutics (NASDAQ:SLNO – Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.06. Research analysts forecast that Soleno Therapeutics will post -2.28 earnings per share for the current fiscal year.

Insider Activity at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 58,213 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $45.77, for a total value of $2,664,409.01. Following the sale, the chief executive officer now owns 925,321 shares of the company’s stock, valued at $42,351,942.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Soleno Therapeutics news, CFO James H. Mackaness sold 6,849 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $45.77, for a total value of $313,478.73. Following the transaction, the chief financial officer now owns 148,914 shares of the company’s stock, valued at approximately $6,815,793.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bhatnagar Anish sold 58,213 shares of the business’s stock in a transaction on Monday, August 5th. The stock was 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 directly owns 925,321 shares in the company, valued at approximately $42,351,942.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 771,441 shares of company stock valued at $37,178,033 in the last 90 days. 12.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Soleno Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank acquired a new position in Soleno Therapeutics in the second quarter worth $31,000. Victory Capital Management Inc. raised its position in shares of Soleno Therapeutics by 26.3% during the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after acquiring an additional 2,236 shares during the last quarter. Sei Investments Co. raised its position in shares of Soleno Therapeutics by 22.0% during the first quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock worth $538,000 after acquiring an additional 2,264 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Soleno Therapeutics during the second quarter worth $569,000. Finally, California State Teachers Retirement System raised its position in shares of Soleno Therapeutics by 33.8% during the first quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock worth $590,000 after acquiring an additional 3,481 shares during the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Soleno Therapeutics Company Profile

(Get Free Report)

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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