Soleno Therapeutics (SLNO) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Soleno Therapeutics (NASDAQ:SLNO) from a hold rating to a buy rating in a research report released on Saturday morning. The firm currently has $1.50 price target on the stock.

According to Zacks, “Soleno Therapeutics Inc. is a healthcare company. It develops and commercializes diagnostics, devices and therapeutics addressing unmet medical needs. The Company offers products consists of CoSense end-tidal carbon monoxide Monitor, NeoPIP Infant Resuscitator and Accessories and Serenz Nasal Relief. Soleno Therapeutics Inc., formerly known as Capnia Inc., is based in Vancouver, Canada. “

Separately, Maxim Group set a $5.00 price objective on Soleno Therapeutics and gave the stock a buy rating in a research note on Thursday, December 20th. Five investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of Buy and an average price target of $6.13.

Shares of Soleno Therapeutics stock opened at $2.68 on Friday. Soleno Therapeutics has a 12-month low of $1.11 and a 12-month high of $5.07. The company has a market cap of $57.45 million, a PE ratio of -1.99 and a beta of 3.29.

In related news, major shareholder Jack W. Schuler acquired 3,031,002 shares of the company’s stock in a transaction dated Friday, December 21st. The shares were bought at an average price of $1.61 per share, for a total transaction of $4,879,913.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 43.27% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc raised its stake in shares of Soleno Therapeutics by 30.1% during the 3rd quarter. Vanguard Group Inc now owns 66,075 shares of the company’s stock worth $143,000 after purchasing an additional 15,281 shares in the last quarter. Trellus Management Company LLC raised its stake in Soleno Therapeutics by 10.8% in the 4th quarter. Trellus Management Company LLC now owns 169,380 shares of the company’s stock valued at $290,000 after acquiring an additional 16,551 shares during the period. Finally, Fosun International Ltd bought a new stake in Soleno Therapeutics in the 4th quarter valued at $294,000. Institutional investors own 72.32% of the company’s stock.

Soleno Therapeutics Company Profile

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.

Recommended Story: Candlestick

Get a free copy of the Zacks research report on Soleno Therapeutics (SLNO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Soleno Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Soleno Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.