Soleno Therapeutics downgraded to Peer Perform from Outperform at Wolfe Research

Wolfe Research downgraded Soleno Therapeutics (SLNO) to Peer Perform from Outperform with no price target after the company’s acquisition agreement with Neurocrine Biosciences (NBIX). The firm thinks it is “unlikely” there were or will be other credible bidders, which it thinks “helps explain the modest takeout premium.”