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Investing.com - TD Cowen has reiterated its Buy rating and $120.00 price target on Soleno Therapeutics Inc. (NASDAQ:SLNO) following the company’s second-quarter earnings report. The company, currently valued at $3.81 billion, has analyst targets ranging from $100 to $145, with InvestingPro data showing strong analyst consensus recommendations.
The firm noted that while some bolus effect can be expected in the $33 million of sales and 646 patient start forms (PSFs), all necessary components are aligning for continued momentum in upcoming quarters. Recent financial data reveals an impressive gross profit margin of 98%, though the company operates with moderate debt levels.
TD Cowen suggested the U.S. market opportunity for Soleno could be larger than initially anticipated, providing additional growth potential for the company’s products.
The research firm also highlighted increasing focus on a potential European approval in 2026, where the total addressable market (TAM) is described as equally large compared to the U.S. market.
Strong key opinion leader (KOL) support in Europe was specifically mentioned as a positive factor that could help drive adoption if regulatory approval is secured in that region.
In other recent news, Soleno Therapeutics reported its second-quarter earnings for 2025, surpassing expectations with an impressive revenue of $32.7 million. This figure significantly exceeded the anticipated $15.35 million, marking a substantial revenue surprise of 113.03%. Additionally, the company posted an earnings per share of -$0.09, which outperformed the forecasted -$0.64 by a notable margin. Following these strong financial results, several analyst firms adjusted their outlooks on Soleno Therapeutics. Stifel raised its price target to $118, citing the strong launch of VYKAT and encouraging market dynamics. Guggenheim also increased its price target to $106, acknowledging the robust sales performance of VYKAT. H.C. Wainwright raised its price target to $110, maintaining a Buy rating despite a recent Citizen Petition filed with the FDA regarding VYKAT XR. These developments highlight the positive momentum surrounding Soleno Therapeutics in recent times.
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