Stifel Raises PT to $115 on Soleno Therapeutics Inc. (SLNO)

Stifel analyst James Condulis reiterated a Buy rating and raised the price target to $115.00 (prior 108) on Soleno Therapeutics Inc. (NASDAQ: SLNO).

The analyst commented, “We conducted a survey of 20 physicians that we think is highly favorable for Vykat and broadly supports the SLNO bull case: (1) demand is significant (48 TRx) and widespread (70% of docs are prescribing--most in multiple patients); (2) interestingly, adult utilization is consistent with pediatrics--not our expectation and could be a significant tailwind; (3) docs have a favorable view of Vykat's clinical profile (efficacy/safety/monitoring); (4) surprisingly, early reimbursement dynamics look much better than expected (most docs can get the "majority" of prescriptions approved); and (5) docs expect utilization to ramp meaningfully throughout 2025, with sustained growth in 2026 (>50% penetration). Now expectations are high and drugs typically survey better than they sell; that said, we've come away more confident in our view that Vykat should track with other very strong initial rare launches (Daybue/Skyclarys) but with durable/persistent growth-- our TP goes to $115 on raised numbers (now model ~$2.5B peak).”

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 $85.27 yesterday.

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