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Why Soleno Therapeutics Stock Ticked Higher on Thursday

TheMotleyFool

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Why Soleno Therapeutics Stock Ticked Higher on Thursday: https://g.foolcdn.com/editorial/images/759146/person-in-a-lab-looking-through-a-microscope.jpg

A 10% lift to an analyst's stock price on Soleno Therapeutics (NASDAQ: SLNO) provided some nice lift to the biotech's shares on Thursday. They closed the day's trading session nearly 2.4% higher, more than double the percentage-rate increase of the S&P 500 index.

Well before market open that day, Guggenheim healthcare analyst Debjit Chattopadhyay upped his price target on Soleno to $44 per share from his previous $40. In doing so, he maintained his buy recommendation on the shares. The new level implies nearly 12% upside to the stock at its latest closing price.

Chattopadhyay's latest research note on the company wasn't publicly available, so we can't ascertain the factors behind his price-target raise.

Source Fool.com

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