The commentary from Baird comes after observing the market's reaction to regulatory outcomes that are not directly related to Soleno. The firm suggests that the current weakness in Soleno's stock, which has declined 7.88% over the past week despite a 31% gain year-to-date, is a chance for investors to buy at a potentially undervalued price.Baird's analysis indicates confidence in Soleno's pathway to approval for DCCR, which is under review by the FDA.
The firm's price target of $72.00 remains unchanged, signaling a belief in the stock's potential for growth. For a comprehensive analysis of SLNO's valuation and growth prospects, investors can access the detailed Pro Research Report available on InvestingPro, which provides expert insights on over 1,400 US stocks.
The commentary from Baird comes after observing the market's reaction to regulatory outcomes that are not directly related to Soleno. The firm suggests that the current weakness in Soleno's stock, which has declined 7.88% over the past week despite a 31% gain year-to-date, is a chance for investors to buy at a potentially undervalued price.Baird's analysis indicates confidence in Soleno's pathway to approval for DCCR, which is under review by the FDA.
The firm's price target of $72.00 remains unchanged, signaling a belief in the stock's potential for growth. For a comprehensive analysis of SLNO's valuation and growth prospects, investors can access the detailed Pro Research Report available on InvestingPro, which provides expert insights on over 1,400 US stocks.
The analyst emphasized that Soleno's drug candidate, DCCR, does not require significant regulatory leniency for approval, which contrasts with Applied Therapeutics (NASDAQ:APLT), whose approval depended on the FDA overlooking traditional statistical benchmarks. This distinction, according to Baird, presents a favorable moment to purchase Soleno shares.
The commentary from Baird comes after observing the market's reaction to regulatory outcomes that are not directly related to Soleno. The firm suggests that the current weakness in Soleno's stock is a chance for investors to buy at a potentially undervalued price.
Baird's analysis indicates confidence in Soleno's pathway to approval for DCCR, which is under review by the FDA. The firm's price target of $72.00 remains unchanged, signaling a belief in the stock's potential for growth.
In other recent news, Soleno Therapeutics (NASDAQ:SLNO) has been the subject of several significant developments. H.C. Wainwright and Baird have both reiterated their positive outlooks on Soleno, with a Buy rating and a target of $70 and $72 respectively, while Oppenheimer and Laidlaw have set targets at $73 and $75. These ratings come amid the FDA's decision to extend the review period for Soleno's New Drug Application for DCCR, a treatment for Prader-Willi syndrome, to March 27, 2025.
Despite this delay, analysts remain optimistic about DCCR's eventual approval and anticipate Soleno to begin generating revenue by mid-2025. Soleno has also entered into an agreement with Jefferies LLC to potentially sell up to $150 million of its common stock and has awarded performance-based restricted stock units to its employees.
Furthermore, Soleno has seen changes in its Board of Directors with Matthew Pauls appointed as the new Lead Independent (LON:IOG) Director and the addition of Dawn Carter Bir.
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