rewrite this title and make it good for SEONeurocrine to acquire Soleno Therapeutics for $2.9 billion By Investing.com

SAN DIEGO and REDWOOD CITY, Calif. – Neurocrine Biosciences, Inc. (NASDAQ:NBIX) announced today it has entered into a definitive agreement to acquire Soleno Therapeutics, Inc. (NASDAQ:SLNO) for $53.00 per share in cash, representing a total equity value of $2.9 billion, according to a press release statement.

The acquisition price represents a premium of approximately 34% to Soleno’s closing share price on April 2, 2026, and a 51% premium to the company’s 30-day volume-weighted average price.

The transaction will add VYKAT XR (diazoxide choline), an FDA-approved treatment for hyperphagia in Prader-Willi syndrome, to Neurocrine’s portfolio. VYKAT XR received FDA approval and launched in the second quarter of 2025, generating $190 million in revenue for the year, including $92 million in the fourth quarter.Neurocrine, with a market capitalization of $13.2 billion, reported revenue of $2.86 billion in the last twelve months, representing 21% growth. The company maintains a strong gross profit margin of 63% and generated $479 million in net income. According to InvestingPro analysis, the stock appears undervalued based on Fair Value metrics, trading at $131.60 against a higher Fair Value estimate.

Prader-Willi syndrome is a rare genetic neurodevelopmental disorder affecting approximately 10,000 patients in the United States. The condition is characterized by hyperphagia, a chronic condition marked by persistent hunger and compulsive food-seeking behavior.

Under the terms of the merger agreement, Neurocrine will commence a cash tender offer to acquire all outstanding shares of Soleno’s common stock. The transaction will be funded with cash on hand and a modest amount of pre-payable debt. The transaction is not subject to any financing condition.InvestingPro data shows Neurocrine maintains a healthy balance sheet with liquid assets exceeding short-term obligations and a current ratio of 3.39, positioning the company well to execute this acquisition. For deeper insights into Neurocrine’s financial health and strategic positioning, investors can access the comprehensive Pro Research Report, available for this and 1,400+ other US equities.

The boards of directors of both companies have approved the transaction, which is expected to close within 90 days, subject to customary closing conditions including regulatory approvals and the tender of at least a majority of outstanding Soleno shares.

Goldman Sachs & Co. LLC is serving as financial advisor to Neurocrine, while Centerview Partners LLC and Guggenheim Securities, LLC are serving as financial advisors to Soleno.

In other recent news, Neurocrine Biosciences has been the focus of several analyst updates and company developments. Cantor Fitzgerald raised its price target for Neurocrine Biosciences to $195, maintaining an Overweight rating due to increased confidence in the outlook for Ingrezza, the company’s lead product. Wolfe Research initiated coverage with an Outperform rating and a $160 price target, projecting Ingrezza’s U.S. sales to reach $3 billion, while the company guides to approximately $2.7 billion to $2.8 billion in 2026. RBC Capital reaffirmed an Outperform rating with a $177 price target, noting a disconnect between the current valuation and the company’s fundamental fair value. Truist Securities, however, lowered its price target to $140, reflecting adjustments for higher operating expenses following the fourth-quarter earnings report and 2026 guidance.

Additionally, Neurocrine Biosciences announced the promotion of Andrew Ratz, Ph.D., to Chief Technical Operations Officer. Ratz, who joined the company in January 2025, will lead the global technical development, manufacturing, and supply chain operations as the company expands its focus. These recent developments underscore the dynamic changes and varied analyst perspectives surrounding Neurocrine Biosciences.

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