Analyst Tyler Van Buren of TD Cowen maintained a Buy rating on Soleno Therapeutics, retaining the price target of $120.00.
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Tyler Van Buren has given his Buy rating due to a combination of factors that highlight Soleno Therapeutics’ promising financial trajectory and market performance. The company has demonstrated significant sales growth for its Vykat XR product, with Q3 revenues reaching $66 million, more than doubling from the previous quarter and surpassing market expectations. This growth is supported by a substantial number of active patients, indicating strong market penetration and acceptance of the product.
Furthermore, Soleno Therapeutics has achieved profitability in its first full quarter post-launch, with a net income of $26 million, showcasing its financial robustness. The company has also managed to maintain a low discontinuation rate among patients, which bodes well for sustained revenue growth. These factors, combined with proactive engagement with the PWS community, suggest a positive outlook for future sales, justifying the Buy rating.