Stifel initiated coverage of Soleno Therapeutics with a Buy rating and $63 price target. Soleno, after “many adversities,” has a de-risked asset in diazoxide choline controlled-release, or DCCR, that may gain the first regulatory approval in Prader-Willi syndrome, or PWS, the analyst tells investors. While noting that Soleno faces regulatory and commercial risks ahead of potential regulatory submission(s) by mid-2024, the firm sees a “potential blockbuster opportunity” given the high unmet need in PWS and several high profile failures in the past, the analyst tells investors.
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