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.
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Read More on SLNO:
- Soleno Therapeutics price target raised to $81 from $70 at Guggenheim
- Soleno Therapeutics price target raised to $102 from $72 at Baird
- Soleno Therapeutics price target raised to $105 from $75 at Laidlaw
- Soleno price target raised to $123 at Cantor Fitzgerald after VYKAT XR approved
- Aardvark Therapeutics price target raised to $26 from $22 at BofA
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