China smartphone shipments slumped in June on inventory overhang: Jefferies
Investing.com - Piper Sandler has reiterated an Overweight rating and $145.00 price target on Soleno Therapeutics Inc. (NASDAQ:SLNO), representing over 100% upside from the current price of $69.55, following investor meetings in New York City. The $3.7 billion market cap company currently maintains a strong financial position with a current ratio of 15.13.
The research firm expressed confidence in the launch trajectory of VYKAT XR based on strong prescription numbers, prescriber adoption, and insurance coverage reported in the second quarter of 2025. Despite a recent 10.88% weekly decline, the stock maintains a strong Buy consensus among analysts, with price targets ranging from $106 to $145.
Piper Sandler addressed a recent short thesis regarding VYKAT XR’s safety profile, noting that management emphasized all observed side effects are included on the product label and occurrence rates are not concerning.
The firm believes Soleno continues to execute effectively across all areas and is actively educating physicians to ensure widespread use of VYKAT XR as the product launch progresses.
According to Piper Sandler, the short thesis has not diminished enthusiasm for VYKAT XR among patients, physicians, and caregivers, which the firm believes will continue to drive strong product uptake. With a beta of -2.56, the stock often moves counter to broader market trends, potentially offering portfolio diversification benefits.
In other recent news, Soleno Therapeutics reported second-quarter earnings with $33 million in sales and 646 patient start forms, indicating strong sales momentum. TD Cowen has maintained its Buy rating on the company, citing the alignment of necessary components for continued momentum in upcoming quarters. H.C. Wainwright raised its price target for Soleno Therapeutics to $110, maintaining a Buy rating due to the outlook for VYKAT XR, despite a recent Citizen Petition filed with the FDA calling for its withdrawal. Wells Fargo (NYSE:WFC) initiated coverage on Soleno Therapeutics with an Overweight rating and a price target of $123. Cantor Fitzgerald also reiterated its Overweight rating and $123 price target, highlighting the company’s ongoing educational efforts with healthcare providers. Baird maintained its Outperform rating and $121 price target, despite a short report criticizing the safety of Soleno’s drug Vykat and suggesting reluctance among physicians and patients. These developments reflect a range of perspectives from different analyst firms on Soleno Therapeutics’ market position and product outlook.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.