Stock market today: S&P 500 drops for fifth day as focus shifts to Powell’s speech
Investing.com - Baird maintained its Outperform rating and $121.00 price target on Soleno Therapeutics Inc. (NASDAQ:SLNO), currently trading at $68.09, following a short report published Friday. The stock has declined 18% over the past week, though analysts maintain a Strong Buy consensus with price targets ranging from $106 to $145.
The short report claimed that Soleno’s drug Vykat is a "ticking safety time bomb" and suggested that Prader-Willi Syndrome (PWS) physicians and patients are reluctant to try the medication.
Baird characterized these claims as "sensationalized" and expressed confidence that Vykat’s safety profile in commercial use remains consistent with what was observed during clinical trials.
While acknowledging the potential impact of anecdotal evidence in today’s information environment, Baird noted that hundreds of patients have been treated commercially with the drug.
The firm expects Soleno Therapeutics to continue its "impressive early growth" despite the negative claims in the short report, maintaining its positive outlook on the company’s performance.
In other recent news, Soleno Therapeutics reported its second-quarter earnings for 2025, posting significant results that exceeded expectations. The company achieved a revenue of $32.7 million, surpassing the anticipated $15.35 million, marking a 113.03% surprise. Earnings per share were reported at -$0.09, significantly better than the forecasted -$0.64. Following these results, several analyst firms have adjusted their price targets for Soleno Therapeutics. TD Cowen reiterated its Buy rating with a price target of $120, while Stifel raised its target to $118, citing a strong start for the VYKAT launch. H.C. Wainwright increased its price target to $110, maintaining a Buy rating despite a recent Citizen Petition filed with the FDA. Guggenheim also raised its price target to $106, acknowledging strong VYKAT sales that exceeded earlier consensus estimates. These developments highlight the company’s positive trajectory in the current market.
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