Soleno Therapeutics (SLNO) Surges Nearly 60% In April Amid Neurocrine Acquisition Deal

After surging 57.56% so far in April, Soleno Therapeutics, Inc. (NASDAQ:SLNO) secures a spot on our list of the mid-cap stocks with the highest gains in April.

On April 6, 2026, Neurocrine, an American biopharmaceutical company, announced the acquisition of Soleno Therapeutics, Inc. (NASDAQ:SLNO). After the announcement, Soleno shares surged nearly 33% in early trading. Neurocrine cited the commercial potential of Soleno’s newly launched rare-disease therapy, Vykat XR.

Following that deal, however, on April 17, Wells Fargo downgraded Soleno Therapeutics, Inc. (NASDAQ:SLNO) from “Overweight” to “Equal Weight.”

At the same time, other investment firms like Cantor Fitzgerald and RBC Capital viewed the move positively. Cantor projected Vykat XR to surpass $1 billion in annual revenue by 2029, with the therapy already generating about $190 million in 2025 sales within nine months of its March 2025 approval. Meanwhile, RBC Capital said the acquisition serves as the addition of a “third leg to the story that plays into Neurocrine’s current capabilities.”

However, analysts at Wells Fargo believe the transaction, which is expected to close in Q3 2026, leaves limited room for further upside. Accordingly, the firm trimmed its price target on Soleno Therapeutics, Inc. (NASDAQ:SLNO) from $110 to $53.

​Soleno Therapeutics, Inc. (NASDAQ:SLNO) is a clinical-stage biopharmaceutical company developing novel therapies for rare diseases, including Prader-Willi Syndrome.

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