Soleno Therapeutics Inc. (SLNO) PT Raised to $145 at Piper Sandler

Piper Sandler analyst Yasmeen Rahimi raised the price target on Soleno Therapeutics Inc. (NASDAQ: SLNO) to $145.00 (from $93.00) while maintaining an Overweight rating.

The analyst commented: "Following VYKAT XR approval, we have received increasing investor inbounds, where feedback is positive on the spot clean label and confidence in mgmt's ability to launch. Into the 1Q25 update (May 7), mgmt will share preliminary start form data (no specific bogey given relatively short-time since approval/launch). Accordingly, this deep dive addresses 29 frequently asked questions, altogether reaffirming our strong conviction in VYKAT XR's launch. Consequently, we believe SLNO is one of the most noteworthy names in this challenging market (note). As the first PWS approval, VYKAT XR is going after an untapped market with high unmet needs (~12K US patients), where there is already strong visibility and limited competition. Email us for our Vol. 2 PWS Excel tablemania. Accordingly, we updated our model, increasing our PT to $145 (vs $93)."

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