Wolfe Research lowered the firm’s price target on Soleno Therapeutics (SLNO) to $60 from $75 and keeps an Outperform rating on the shares. The firm notes Soleno Q4 sales for Vykat XR beat consensus, but the weak new patient starts continues to weigh on the stock. Current market valuation reflects Wolfe’s bear-case uptake scenario. The firm sees a more moderate decline in quarter-over-quarter new patient starts in its base case than what the Street is pricing in today.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SLNO:
- Midday Fly By: Alphabet hits $4T market cap, Walmart to join Nasdaq-100
- Morning Movers: Sun Country jumps after deal to be bought by Allegiant
- Soleno Therapeutics reports preliminary Q4 revenue $90M-$92M, consensus $81.67M
- Soleno Therapeutics announces publication of VYKAT XR study results in JCEM
- Optimistic Outlook for Soleno Therapeutics: Potential Synergy of Vykat in Niche Market Segments