Oppenheimer’s Favorite Stocks For Next 12 Months: Top 32 Stock Picks

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3. Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Share Price Upside: 51%

Number of Hedge Fund Investors In Q2 2024: 29

Average Analyst Share Price Target: $68.14

Soleno Therapeutics, Inc. (NASDAQ:SLNO) is a specialty biotechnology company that is developing a drug called Diazoxide Choline Extended-Release (DCCR) in tablet form to treat the rare and serious genetic disorder called Prader-Willi Syndrome (PWS). DCCR aims to treat a serious effect of PWS called hyperphagia, which makes patients feel excessive hunger that leads to overeating. Soleno Therapeutics, Inc. (NASDAQ:SLNO)’s DCCR is currently in the New Drug Application (NDA) stage, after the drug completed its phase three trials earlier this year. Depending on a variety of factors, such as a priority review by the FDA could mean that DCCR reaches the market by 2025 and unlocks catalysts for Soleno Therapeutics, Inc. (NASDAQ:SLNO)’s share price and income statement. The firm submitted NDA for DCCR in Q2, and the decision should take place around August 27th. Oppenheimer outlines that the “shares remain undervalued.”

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