Maxim Group Analysts Give Soleno Therapeutics (SLNO) a $4.00 Price Target

Soleno Therapeutics (NASDAQ:SLNO) received a $4.00 target price from equities research analysts at Maxim Group in a research note issued on Monday. The firm currently has a “buy” rating on the stock. Maxim Group’s price objective points to a potential upside of 97.04% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Soleno Therapeutics from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a research report on Thursday, August 23rd. ValuEngine upgraded shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. Finally, Roth Capital began coverage on shares of Soleno Therapeutics in a research report on Friday, June 22nd. They issued a “buy” rating and a $14.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $6.50.

Shares of NASDAQ SLNO traded down $0.18 during midday trading on Monday, reaching $2.03. The stock had a trading volume of 200 shares, compared to its average volume of 100,317. The company has a market capitalization of $46.25 million, a P/E ratio of -1.50 and a beta of 4.86. Soleno Therapeutics has a twelve month low of $1.32 and a twelve month high of $3.60.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Tuesday, August 14th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.12). On average, sell-side analysts expect that Soleno Therapeutics will post -1.11 earnings per share for the current year.

In related news, major shareholder Technology Partners Fund Vii L sold 22,682 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $2.03, for a total transaction of $46,044.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 43.27% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP acquired a new position in shares of Soleno Therapeutics during the 2nd quarter valued at $104,000. Trellus Management Company LLC acquired a new position in shares of Soleno Therapeutics during the 2nd quarter valued at $302,000. Finally, Vivo Capital LLC lifted its position in shares of Soleno Therapeutics by 8.1% during the 2nd quarter. Vivo Capital LLC now owns 4,359,683 shares of the company’s stock valued at $10,202,000 after acquiring an additional 326,149 shares during the period. Institutional investors own 44.25% of the company’s stock.

About Soleno Therapeutics

Soleno Therapeutics, Inc focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate, diazoxide choline controlled-release (DCCR), a tablet for the treatment of Prader-Willi Syndrome (PWS), is entering into late-stage clinical development.

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