Why Soleno Therapeutics Stock Rocketed Higher on Monday
On news that Soleno Therapeutics (NASDAQ: SLNO) has agreed to be acquired, investors piled into the company's shares on Monday. This left the commercial-stage biotech with a juicy 32% gain on the day's trading session.
That morning, Soleno and its peer biotech, Neurocrine Biosciences (NASDAQ: NBIX), announced that they had signed a definitive agreement under which Neurocrine would acquire Soleno. The deal, valued at $2.9 billion, will see Neurocrine pay $53 per share in an all-cash transaction to own Soleno.
Image source: Getty Images.
Source Fool.com
Neurocrine Bioscience Stock
€112.45
-0.400%
The stock is an absolute favorite of our community with 54 Buy predictions and no Sell predictions.
As a result the target price of 148 € shows a positive potential of 31.61% compared to the current price of 112.45 € for Neurocrine Bioscience.
