Noble Financial Reiterates “$4.00” Price Target for Soleno Therapeutics (SLNO)

Soleno Therapeutics (NASDAQ:SLNO) has been given a $4.00 price objective by research analysts at Noble Financial in a research report issued to clients and investors on Wednesday. The firm presently has a “buy” rating on the stock. Noble Financial’s target price indicates a potential upside of 116.22% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. ValuEngine raised shares of Soleno Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Maxim Group set a $4.00 price target on shares of Soleno Therapeutics and gave the stock a “buy” rating in a report on Monday, April 2nd.

Soleno Therapeutics opened at $1.85 on Wednesday, according to Marketbeat. Soleno Therapeutics has a twelve month low of $1.76 and a twelve month high of $1.77.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, May 16th. The company reported ($0.17) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.08).

In other Soleno Therapeutics news, major shareholder Larry N. Feinberg bought 50,000 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, May 15th. The shares were bought at an average price of $1.80 per share, with a total value of $90,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 69.75% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in SLNO. Birchview Capital LP bought a new position in shares of Soleno Therapeutics during the 4th quarter valued at $1,032,000. Sabby Management LLC bought a new position in shares of Soleno Therapeutics during the 4th quarter valued at $1,647,000. Finally, 683 Capital Management LLC grew its holdings in shares of Soleno Therapeutics by 462.7% during the 4th quarter. 683 Capital Management LLC now owns 844,112 shares of the company’s stock valued at $1,519,000 after purchasing an additional 694,112 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Soleno Therapeutics Company Profile

Soleno Therapeutics, Inc focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. The company's lead candidate, diazoxide choline controlled-release (DCCR), a once-daily oral tablet for the treatment of Prader-Willi Syndrome (PWS), is entering into Phase II/III clinical development.

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