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Investing.com - Stifel raised its price target on Soleno Therapeutics Inc. (NASDAQ:SLNO) to $118.00 from $115.00 on Thursday, while maintaining a Buy rating following the company’s second-quarter earnings report. The new target sits well within the analyst range of $100-$145, with InvestingPro data showing the stock has already delivered an impressive 84.7% return over the past year.
Soleno reported $32.7 million in revenue for the quarter, which Stifel characterized as an "excellent start" for the company’s Vykat launch. The firm noted that key underlying dynamics including demand, prescribers, and payers appear encouraging.
Stifel highlighted that most current patients are older and heavier than the phase 3 trial average, which the firm believes could be a significant tailwind over time.
The stock has experienced recent weakness, which Stifel suggests may reflect a lack of urgency following the pre-report and perceptions that a recent capital raise might indicate reduced likelihood of imminent merger and acquisition activity.
Despite this, Stifel remains bullish on Soleno’s outlook throughout 2025 and beyond, citing the strong early launch results, expectations for sustained growth through 2025-2026, and the continued possibility of M&A activity.
In other recent news, Soleno Therapeutics reported its earnings for the second quarter of 2025, surpassing forecasts with a significant revenue beat. The company posted an earnings per share of -$0.09, outperforming the expected -$0.64, which represents a surprise of 85.94%. Revenue reached $32.7 million, more than double the anticipated $15.35 million, marking a surprise of 113.03%. Guggenheim responded to these strong sales by raising its price target for Soleno Therapeutics to $106 from $97, while maintaining a Buy rating on the stock. The increase in the price target was attributed to strong VYKAT sales, which were reported at $32.7 million, within the company’s preannounced range and exceeding earlier consensus estimates. Despite the positive earnings and revenue results, Soleno’s stock experienced a slight decline in after-hours trading. These developments highlight the company’s robust financial performance and the positive outlook from analysts.
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