Laidlaw raised the firm’s price target on Soleno Therapeutics (SLNO) to $105 from $75 and keeps a Buy rating on the shares after the FDA approved Vykat for the treatment of hyperphagia in adults and pediatric patients with Prader-Willi syndrome. Soleno holds a “very enviable position” since Vykat is entering a market with substantial unmet need without any competition, the analyst tells investors in a research note. The firm cites the the elimination of regulatory risks and “much better” than estimated Vykat pricing for the target increase.
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