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Investing.com - Cantor Fitzgerald has maintained its Overweight rating and $123.00 price target on Soleno Therapeutics Inc. (NASDAQ:SLNO), representing an 81% upside from the current price of $68.09. According to InvestingPro data, analysts are highly bullish on the stock, with targets ranging from $106 to $145.
The firm noted that Soleno continues to provide extensive education to healthcare providers about initiating patients on its drug therapy and has maintained open communication channels throughout this process.
Cantor Fitzgerald observed that some commercially treated patients are morbidly obese, a group that generally faces higher health risks, according to the research note.
While the drug’s label includes a titration guide, the firm pointed out that physicians may modify and slow the recommended schedule if appropriate for specific patients.
The research note acknowledged that Prader-Willi Syndrome (PWS) is a complex disorder with patients experiencing various conditions, and physicians consulting with Soleno have indicated that the observed side effects are consistent with known characteristics of the medication.
In other recent news, Soleno Therapeutics reported second-quarter earnings with revenue reaching $32.7 million, which is considered a strong start for the launch of their drug Vykat. TD Cowen reiterated its Buy rating on the company, noting the sales momentum and alignment of necessary components for continued growth. Stifel also raised its price target to $118, citing the successful launch and encouraging dynamics in demand, prescribers, and payers. Guggenheim increased its price target to $106, acknowledging the strong Vykat sales that exceeded earlier consensus estimates. H.C. Wainwright adjusted its price target to $110, maintaining a Buy rating despite a recent Citizen Petition filed with the FDA calling for the withdrawal of Vykat XR. Baird maintained its Outperform rating with a $121 price target, despite a short report questioning the safety of Soleno’s drug. These developments reflect varied analyst perspectives and ongoing interest in Soleno Therapeutics’ market performance.
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