HC Wainwright Reiterates “Buy” Rating for Soleno Therapeutics (NASDAQ:SLNO)

HC Wainwright reiterated their buy rating on shares of Soleno Therapeutics (NASDAQ:SLNO) in a report published on Monday,Benzinga reports. They currently have a $70.00 price objective on the stock. HC Wainwright also issued estimates for Soleno Therapeutics’ Q4 2024 earnings at ($0.71) EPS, FY2024 earnings at ($3.74) EPS, Q1 2025 earnings at ($0.71) EPS, Q3 2025 earnings at ($0.79) EPS, Q4 2025 earnings at ($0.78) EPS and FY2025 earnings at ($3.07) EPS.

A number of other analysts have also issued reports on SLNO. Stifel Nicolaus increased their price target on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Robert W. Baird reissued an “outperform” rating and set a $72.00 target price on shares of Soleno Therapeutics in a research note on Monday. Oppenheimer upped their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a report on Friday, September 20th. Six 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, Soleno Therapeutics has an average rating of “Buy” and an average price target of $74.83.

Soleno Therapeutics Stock Performance

Soleno Therapeutics stock opened at $50.67 on Monday. The company has a 50 day moving average price of $53.67 and a 200 day moving average price of $48.75. Soleno Therapeutics has a 52 week low of $27.27 and a 52 week high of $60.92. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -15.26 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). Equities analysts forecast that Soleno Therapeutics will post -3.76 earnings per share for the current fiscal year.

Insider Transactions at Soleno Therapeutics

In other news, insider Kristen Yen sold 3,108 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $153,628.44. Following the sale, the insider now owns 81,465 shares in the company, valued at approximately $4,026,814.95. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO James H. Mackaness sold 8,077 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $399,246.11. Following the completion of the sale, the chief financial officer now owns 119,172 shares in the company, valued at $5,890,671.96. This represents a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,818 shares of company stock worth $1,622,194 in the last 90 days. 12.30% of the stock is owned by insiders.

Institutional Trading of Soleno Therapeutics

Several institutional investors have recently modified their holdings of the company. Amalgamated Bank acquired a new stake in Soleno Therapeutics during the second quarter valued at approximately $31,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Soleno Therapeutics in the third quarter valued at about $155,000. Curi RMB Capital LLC acquired a new position in shares of Soleno Therapeutics in the 3rd quarter worth approximately $202,000. Intech Investment Management LLC acquired a new position in shares of Soleno Therapeutics in the 3rd quarter worth approximately $262,000. Finally, Fred Alger Management LLC acquired a new position in shares of Soleno Therapeutics in the 3rd quarter worth approximately $310,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

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.