Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on Soleno Therapeutics, boosting the price target to $110.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors that highlight the promising outlook for Soleno Therapeutics. Despite the filing of a Citizen Petition to the FDA calling for the withdrawal of Soleno’s product VYKAT XR, Selvaraju believes this will not impact the product’s market presence. The extensive clinical assessments prior to its approval and its compelling risk-benefit profile for Prader-Willi Syndrome patients support this view. Additionally, the reported side effects are considered manageable, and the drug’s advantages in efficacy and tolerability over its predecessor are emphasized.
Selvaraju’s rating is also based on the impressive commercial performance of VYKAT XR in the U.S. market, which has exceeded initial sales forecasts significantly. Soleno’s financial results for the second quarter of 2025 showed net product sales of $32.7 million, far surpassing the expected $1.7 million. This strong performance has led to an upward revision of sales forecasts for 2025 and 2026. The rapid uptake of VYKAT XR, evidenced by the number of patient start forms and prescribers, along with increasing insurance coverage, reinforces the potential for the drug to become a backbone therapy for Prader-Willi Syndrome. Consequently, Selvaraju has raised the 12-month price target for Soleno’s stock to $110, reflecting the accelerated sales trajectory and positive long-term growth prospects.
In another report released on August 7, Oppenheimer also maintained a Buy rating on the stock with a $110.00 price target.