Soleno Therapeutics price target raised to $114 from $106 at Wells Fargo

Wells Fargo analyst Derek Archila raised the firm’s price target on Soleno Therapeutics (SLNO) to $114 from $106 and keeps an Overweight rating on the shares. The firm notes Q4 Vykat extended-release revenues beat, with an acceptable discontinuation rate due to adverse events. While patient start forms fell short, management’s commentary last week reinforced about 250 PSFs per quarter at steady state, absent seasonal factors. Management will need to deliver on this, but Wells doesn’t think Street’s FY26 estimates seem aggressive and shares trade at a meaningful discount given its free cash flow profile.