Soleno Therapeutics initiated with a Buy at TD Cowen

TD Cowen analyst Tyler Van Buren initiated coverage of Soleno Therapeutics (SLNO) with a Buy rating and $110 price target The firm says Vykat XR “bucked the trend of clinical shortcomings” in Prader-Willi syndrome by becoming the first-approved treatment for hyperphagia in this devastating genetic syndrome. Management appears prepared to execute on a strong launch with a high price tag and sizable population to itself, the analyst tells investors in a research note. TD is optimistic the Prader-Willi community’s urgency “will fuel significant uptake.”