Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives Consensus Rating of “Buy” from Brokerages

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have been assigned a consensus rating of “Buy” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $67.14.

A number of equities research analysts have issued reports on SLNO shares. HC Wainwright started coverage on Soleno Therapeutics in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $70.00 price target on the stock. Oppenheimer raised their price objective on Soleno Therapeutics from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a report on Wednesday, July 31st.

Soleno Therapeutics Price Performance

NASDAQ:SLNO opened at $52.79 on Thursday. Soleno Therapeutics has a 1-year low of $3.96 and a 1-year high of $54.08. The company’s 50-day moving average is $48.05 and its two-hundred day moving average is $44.57. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -19.70 and a beta of -1.46.

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

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, CFO James H. Mackaness sold 7,190 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $41.54, for a total transaction of $298,672.60. Following the completion of the sale, the chief financial officer now directly owns 55,763 shares in the company, valued at $2,316,395.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the stock in a transaction dated 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 owns 6,816,851 shares of the company’s stock, valued at $332,185,149.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James H. Mackaness sold 7,190 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total transaction of $298,672.60. Following the sale, the chief financial officer now directly owns 55,763 shares of the company’s stock, valued at approximately $2,316,395.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 767,239 shares of company stock worth $36,744,548. 12.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Soleno Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Carlyle Group Inc. increased its position in Soleno Therapeutics by 42.5% in the 1st quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company’s stock valued at $173,123,000 after acquiring an additional 1,213,758 shares during the period. Perceptive Advisors LLC raised its holdings in Soleno Therapeutics by 4.2% during the 2nd quarter. Perceptive Advisors LLC now owns 3,204,976 shares of the company’s stock worth $130,763,000 after buying an additional 130,434 shares during the period. Nantahala Capital Management LLC raised its stake in Soleno Therapeutics by 27.9% during the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock valued at $125,750,000 after purchasing an additional 671,728 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Soleno Therapeutics by 13.7% during the first quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company’s stock worth $122,698,000 after purchasing an additional 346,914 shares during the period. Finally, Avoro Capital Advisors LLC boosted its position in Soleno Therapeutics by 28.7% during the second quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company’s stock valued at $85,340,000 after purchasing an additional 466,666 shares during the last quarter. 97.42% of the stock is currently 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.