Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Average Recommendation of “Buy” by Analysts

by · The Markets Daily

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO – Get Free Report) have received a consensus rating of “Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $67.14.

SLNO has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 price objective on shares of Soleno Therapeutics in a report on Wednesday, July 31st. Oppenheimer boosted their price target on Soleno Therapeutics from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Finally, HC Wainwright started coverage on shares of Soleno Therapeutics in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $70.00 price objective on the stock.

Get Our Latest Analysis on SLNO

Soleno Therapeutics Stock Up 1.2 %

Shares of NASDAQ SLNO opened at $53.55 on Thursday. The firm’s 50-day moving average price is $48.46 and its 200-day moving average price is $44.66. Soleno Therapeutics has a 52-week low of $3.96 and a 52-week high of $54.50. The company has a market cap of $1.79 billion, a PE ratio of -19.98 and a beta of -1.46.

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

Insider Activity

In other Soleno Therapeutics news, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $48.73, for a total transaction of $24,365,000.00. Following the sale, the insider now owns 6,816,851 shares in the company, valued at approximately $332,185,149.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Bhatnagar Anish sold 58,213 shares of the 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 completion of the sale, the chief executive officer now owns 925,321 shares in the company, valued at $42,351,942.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $48.73, for a total value of $24,365,000.00. Following the completion of the transaction, the insider now directly owns 6,816,851 shares in the company, valued at $332,185,149.23. The disclosure for this sale can be found here. Insiders have sold a total of 767,239 shares of company stock valued at $36,744,548 in the last ninety days. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

A number of institutional investors have recently added to or reduced their stakes in SLNO. Amalgamated Bank bought a new position in shares of Soleno Therapeutics during the second quarter worth $31,000. Victory Capital Management Inc. lifted its stake in Soleno Therapeutics by 26.3% in 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 in the last quarter. Cannon Global Investment Management LLC bought a new position in shares of Soleno Therapeutics during the 1st quarter valued at about $505,000. Sei Investments Co. grew 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 valued at $538,000 after purchasing an additional 2,264 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Soleno Therapeutics in the second quarter worth about $569,000. 97.42% of the stock is owned by hedge funds and other institutional investors.

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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