Stifel Resumes Soleno Therapeutics Inc. (SLNO) at Buy

Stifel analyst James Condulis resumes coverage on Soleno Therapeutics Inc. (NASDAQ: SLNO) with a Buy rating and a price target of $74.00.

The analyst comments "We're resuming coverage of Soleno with a Buy rating and a $74 target price. After quite the journey, DCCR's PDUFA in Prader-Willi is set for later this month (March 27th). And while there's a fair debate here, we ultimately think DCCR gets approved (80% POS). The data aren't pristine but collectively we think they establish a credible clinical effect that, with a favorable risk/benefit in a rare disease with significant unmet need (i.e., warrants regulatory flexibility), should support approval. And while we can appreciate the concerns around the randomized-withdrawal study and what exactly the FDA's tea leaves (i.e., adcomm cancellation/PDUFA extension) may mean, discussed within we think various bear cases here fall short. Meanwhile, doc feedback is excellent where, even with some arguably conservative assumptions, we model a blockbuster opportunity that implies meaningful potential upside to the stock. We also think M&A is likely a plausible upside case as well."

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 $44.44 yesterday.

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