S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
Capnia Inc stock has reached a new 52-week high, with shares trading at $74.0, marking a significant milestone for the company. According to InvestingPro data, analysts have set price targets ranging from $81 to $123, suggesting potential further upside. The stock appears overvalued at current levels based on InvestingPro’s Fair Value analysis. This peak represents a substantial gain from the previous year, as the 1-year change data indicates a robust 77.02% increase. Investors have shown growing confidence in Capnia’s market position and future prospects, contributing to the stock’s impressive climb. With a beta of -1.69, the stock tends to move opposite to the broader market, offering potential diversification benefits. The achievement of this 52-week high serves as a testament to the company’s recent performance and the positive sentiment surrounding its growth trajectory. InvestingPro subscribers have access to 16 additional key insights about Capnia, including detailed valuation metrics and growth projections.
In other recent news, Soleno Therapeutics (NASDAQ:SLNO) Inc. has received FDA approval for its VYKAT XR (diazoxide choline) extended-release tablets, designed to treat hyperphagia in patients with Prader-Willi Syndrome (PWS) aged four years and older. This approval marks a significant milestone for the company, with the drug expected to be available in the U.S. market by April 2025. Following this development, several analysts have adjusted their price targets for Soleno. H.C. Wainwright raised its target to $100 from $70, maintaining a Buy rating, while Stifel increased its target from $74 to $108, also with a Buy rating. Guggenheim adjusted its target from $70 to $81, citing conservative assumptions in their valuation. Piper Sandler reiterated a $93 target, emphasizing a positive outlook due to the minimal warnings on VYKAT XR’s label. The drug’s approval and strategic pricing are expected to facilitate its market adoption, with analysts projecting substantial revenue opportunities for Soleno Therapeutics.
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