Soleno Therapeutics price target raised to $108 from $74 at Stifel

Stifel raised the firm’s price target on Soleno Therapeutics (SLNO) to $108 from $74 and keeps a Buy rating on the shares following FDA’s approval of Vykat XR for Prader-Willi Syndrome. The approval supports “a blockbuster opportunity” that, even with yesterday’s move, is “under-appreciated by the stock,” the analyst tells investors. The firm continues to believe Vykat is well-positioned for a strong, durable opportunity and is now modeling a higher revenue opportunity of about $2B, which it thinks “could still prove conservative,” the analyst added.