Soleno Therapeutics Inc. (NASDAQ:SLNO) is one of the best cheap stocks that will skyrocket. On January 13, analysts at Cantor Fitzgerald reiterated an Overweight rating on the stock and set a $123 price target. The positive stance is in response to the company reaching 12.5% market share in its Prader-Willi Syndrome (PWS) treatment, Vykat.
Consequently, the company is expected to generate $98.67 million in revenue even as the discontinuation rate on the flagship drug remains at 15%. Cantor Fitzgerald expects Soleno to add 1,000 patients every 9 to 12 months, representing 10% of the total addressable market. While the company has enjoyed strong adoption among younger patients, there is a significant shift toward older patients, including those aged 27-42 and 43-65.
Meanwhile, Baird lowered its price target on the stock to $107 from $121 while reiterating an Outperform rating. The new price target represents significant upside potential given that the stock trades at about $41 a share. The research firm remains bullish on the company’s stock, projecting sales of $90 to $92 million for its Vykat drug, exceeding its $82 million estimate.
Soleno Therapeutics, Inc. is a biopharmaceutical company focused on developing treatments for rare diseases, most notably Prader-Willi syndrome (PWS), a complex genetic disorder. Its lead product, VYKAT XR is the first FDA-approved therapy for hyperphagia (excessive hunger) in PWS patients aged 4 and older, a major symptom of the condition.
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This article is originally published at Insider Monkey.
