Soleno Therapeutics price target lowered to $106 from $123 at Wells Fargo

Wells Fargo analyst Derek Archila lowered the firm’s price target on Soleno Therapeutics (SLNO) to $106 from $123 and keeps an Overweight rating on the shares. The firm says that while this is not the quarter it hoped for exactly, Wells still thinks Vykat XR will be a $1B-plus drug in Prader-Willi syndrome. The firm expects shares to be volatile through year-end 2025 on competitor data but sees the opportunity for shares to outperform on Q4 revenues amid low expectations.