H.C. Wainwright analyst Ram Selvaraju has reiterated their bullish stance on SLNO stock, giving a Buy rating on March 28.
Ram Selvaraju has given his Buy rating due to a combination of factors including the recent FDA approval of Soleno Therapeutics’ VYKAT XR, which is set to be available in the U.S. by April 2025. The approval was timely, aligning with the PDUFA target action date, and the drug’s pricing exceeded initial expectations, leading to an increased price target for the stock.
Additionally, the company’s strong financial position, with substantial cash reserves, is expected to support the launch and potentially achieve cash flow breakeven. The compelling clinical data from the Phase 3 trial, demonstrating the drug’s efficacy and safety, is anticipated to drive rapid market uptake. These elements contribute to a positive outlook for Soleno’s financial performance, with expectations of profitability by 2026, reinforcing the Buy rating.
In another report released on March 28, Stifel Nicolaus also maintained a Buy rating on the stock with a $108.00 price target.