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

Core Insights - Soleno Therapeutics, Inc. (NASDAQ:SLNO) is recognized as a strong buy stock by Wall Street, with Wells Fargo analyst Derek Archila reiterating a Buy rating and setting a price target of $123.00 [1] Financial Performance - For the three months ended June 30, 2025, Soleno Therapeutics reported a cash usage of $12.6 million in its operating activities [2] - As of the end of the second quarter, the company had $293.8 million in cash, cash equivalents, and marketable securities [2] - The cash balance at the end of Q2 does not include $230 million raised through an underwritten offering of common stock in July [3] - Product revenue for the quarter reached $32.7 million [3] Company Overview - Soleno Therapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapeutics for rare diseases, particularly neurobehavioral and metabolic disorders [4] - The company's lead candidate is Diazoxide Choline Controlled-Release (DCCR), an oral tablet designed to treat Prader-Willi Syndrome (PWS) [4]