Wells Fargo Reiterates a Buy Rating on Soleno Therapeutics (SLNO), Sets a PT of $123

Soleno Therapeutics, Inc. (NASDAQ:SLNO) is one of the best strong buy stocks to invest in according to Wall Street. On September 24, Wells Fargo analyst Derek Archila reiterated a Buy rating on Soleno Therapeutics, Inc. (NASDAQ:SLNO) and set a price target of $123.00.

Soleno Therapeutics, Inc. (NASDAQ:SLNO) reported that it used $12.6 million of cash in its operating activities during the three months ended June 30, 2025. Management reported that the company had $293.8 million of cash, cash equivalents, and marketable securities as of the end of the quarter.

Management also reported that cash at the end of Q2 “excludes $230 million of gross proceeds that the company raised in July through an underwritten offering of common stock”. Product revenue, net, for the quarter reached $32.7 million.

Soleno Therapeutics, Inc. (NASDAQ:SLNO) is a clinical-stage biopharmaceutical company that develops and commercializes novel therapeutics to treat rare diseases. The company focuses on the treatment of neurobehavioral and metabolic disorders. Its lead candidate, Diazoxide Choline Controlled-Release (DCCR), is an oral tablet that treats Prader-Willi Syndrome (PWS).

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Disclosure: None. This article is originally published at Insider Monkey.