Soleno Therapeutics, Inc. (NASDAQ:SLNO) is one of the 10 Cheap Stocks with Huge Upside Potential. Multiple analysts remain bullish on Soleno Therapeutics, Inc. (NASDAQ:SLNO). H.C. Wainwright raised the target price on the stock from $110 to $120 on January 20, while Derek Archila of Wells Fargo maintained his $106 price target. Analyst Kristen Kluska from Cantor Fitzgerald reiterated her Buy rating on the stock and set a price target of $123 on January 13.
However, on January 12, Wolfe Research cut its price target for the stock from $75 to $60 while maintaining a Buy rating. The revised price target still offers an upside of 41.7% from current levels, matching the lowest analyst estimate on the street. The firm noted that Soleno Therapeutics’ fourth-quarter sales of Vykat XR came in above consensus expectations. However, it added that the weaker new patient start forms continue to pressure stock performance. Wolfe Research also said that the current market valuation appears to reflect its bear-case scenario for product uptake. In contrast, in the firm’s base-case outlook, it expects a more moderate quarter-over-quarter decline in new patient starts than the broader market is currently pricing in.
Soleno Therapeutics, Inc. (NASDAQ:SLNO) operates as a clinical-stage biopharmaceutical company. The company is engaged in the commercialization and development of novel therapeutics for the treatment of rare diseases. It was founded in 1999 and is based in Redwood City, California.
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Disclosure: None. This article is originally published at Insider Monkey.
