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

Soleno Therapeutics, Inc. (NASDAQ:SLNO) is one of the best strong buy stocks to invest in according to Wall Street. On September 24, Wells Fargo analyst Derek Archila reiterated a Buy rating on Soleno Therapeutics, Inc. (NASDAQ:SLNO) and set a price target of $123.00.

Why Soleno Therapeutics Inc. (SLNO) Went Up Last Week?

Soleno Therapeutics, Inc. (NASDAQ:SLNO) reported that it used $12.6 million of cash in its operating activities during the three months ended June 30, 2025. Management reported that the company had $293.8 million of cash, cash equivalents, and marketable securities as of the end of the quarter.

Management also reported that cash at the end of Q2 “excludes $230 million of gross proceeds that the company raised in July through an underwritten offering of common stock”. Product revenue, net, for the quarter reached $32.7 million.

Soleno Therapeutics, Inc. (NASDAQ:SLNO) is a clinical-stage biopharmaceutical company that develops and commercializes novel therapeutics to treat rare diseases. The company focuses on the treatment of neurobehavioral and metabolic disorders. Its lead candidate, Diazoxide Choline Controlled-Release (DCCR), is an oral tablet that treats Prader-Willi Syndrome (PWS).

While we acknowledge the potential of SLNO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SLNO and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.