H.C. Wainwright analyst Ram Selvaraju has reiterated their bullish stance on SLNO stock, giving a Buy rating on February 28.
Ram Selvaraju has given his Buy rating due to a combination of factors surrounding Soleno Therapeutics’ prospects. A key element is the anticipated FDA decision on the approval of DCCR tablets for Prader-Willi syndrome, expected by March 2025. This approval is likely to lead to revenue generation by mid-2025, and Selvaraju believes the decision will be favorable and timely.
Additionally, there is potential for higher-than-expected pricing for DCCR, which could surpass the current forecast of $400K per patient annually. This could result in peak U.S. sales approaching $2.4 billion, which Selvaraju considers conservative. Soleno’s preparation for the U.S. launch of DCCR, including strategic investments in commercial and medical affairs, further supports the Buy rating. The company’s financial position, with substantial cash reserves, is expected to sustain operations through the DCCR launch, enhancing confidence in the stock’s future performance.
According to TipRanks, Selvaraju is a 4-star analyst with an average return of 3.5% and a 38.48% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Vanda, Axsome Therapeutics, and Anavex Life Sciences.
In another report released on February 28, Piper Sandler also maintained a Buy rating on the stock with a $93.00 price target.