12 Best Upside Stocks to Buy Now

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2. Soleno Therapeutics Inc. (NASDAQ:SLNO)

Number of Hedge Fund Holders: 58

Average Upside Potential as of November 27: 142.18%

Soleno Therapeutics Inc. (NASDAQ:SLNO) is one of the best upside stocks to buy now. On November 18, Wolfe Research analyst Kalpit Patel initiated coverage of Soleno Therapeutics with an Outperform rating and $75 price target. The stock price has been weak recently due to a sequential slowdown in the number of new patients starting treatment (ViCAT XR). However, Patel noted that the firm’s latest survey data indicates concerns about the treatment’s safety are overblown, and the underlying trend for its use is expected to be positive over the next 1 to 2 years.

Earlier in its Q3 2025 earnings report, Soleno Therapeutics announced that the company achieved profitability with a positive net income of $26 million for the quarter. Total net revenue more than doubled from Q2 to $66 million. Furthermore, Soleno achieved broad insurance coverage for its key product, ViCAT XR, covering ~132 million lives.

ViCAT XR, the company’s treatment for Prader-Willi Syndrome/PWS, has 764 active patients receiving the reimbursed drug, reflecting growing adoption. However, the company’s launch trajectory was temporarily disrupted due to a short seller report. This disruption led to a slowdown in patient start forms during August and September, as well as an increased rate of discontinuations. The discontinuation rate of ViCAT XR related to adverse events was ~8% by the end of Q3.

Soleno Therapeutics Inc. (NASDAQ:SLNO) is a clinical-stage biopharmaceutical company that develops and commercializes novel therapeutics for the treatment of rare diseases.

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