Piper Sandler Reiterates Overweight Rating on Soleno Therapeutics Inc. (SLNO)

Piper Sandler analyst Yasmeen Rahimi reiterated an Overweight rating and $93.00 price target on Soleno Therapeutics Inc. (NASDAQ: SLNO).

The analyst commented, "We remain highly bullish and believe DCCR in PWS is de-risked for a positive AdCom and subsequent approval (Dec. 27, 2024 PDUFA). Accordingly, we took a deep dive into 27 frequently asked investor questions to address what we know on AdCom timing, logistics, and expected key topics/questions. Importantly, DCCR has a favorable benefit/risk profile based on the totality of data, and we see minimal regulatory risk given the regulatory alignment on development plans (with a precedence of drugs approved from randomized withdrawal data). Ultimately, we see substantial upside into DCCR's AdCom, which should be the key stock-moving catalyst given high concordance between outcome and approval. Accordingly, we expect a potential label indicated for PWS with hyperphagia in patients ≥4 years old with clean safety to drive strong adoption in this high unmet need indication."

For an analyst ratings summary and ratings history on Soleno Therapeutics Inc. click here. For more ratings news on Soleno Therapeutics Inc. click here.

Shares of Soleno Therapeutics Inc. closed at $48.77 yesterday.

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