Market Overview

Goldman Sachs Gets Firm On Solid Biosciences

Goldman Sachs Gets Firm On Solid Biosciences

Just weeks into its life as a publicly traded company, Solid Biosciences Inc (NASDAQ: SLDB) caught the eyes of four analysts who assumed coverage Tuesday with a mix of Holds and Buys.

Here is what one of the more bearish critics had to say.

The Rating

Goldman Sachs analyst Salveen Richter initiated coverage on Solid Biosciences with a Neutral rating and a $31 price target.

The Thesis

The biotech company’s Duchenne muscular dystrophy portfolio is led by SGT-001, a gene therapy competing with Sarepta Therapeutics Inc (NASDAQ: SRPT) and Pfizer Inc. (NYSE: PFE)-Bamboo treatments.

Solid Biosciences will release Phase 1/2 interim data for its candidate in the first half of 2019 to be clinically compared with Sarepta’s interim Phase 1/2 results delivering proof of concept in the back half of 2018.

“We acknowledge SGT-001 could be a game-changing therapy for DMD patients and estimate $3.1 billion in global risk-unadjusted peak sales,” Richter wrote in a Tuesday note.

By his assessment, risks include a lack of near-term drivers coupled with ambiguity around resolution of the FDA’s partial clinical hold on high-dose manufacturing; safe, systemic administration at a high dose; and ownership of intellectual property for the AAV9 delivery method.

Price Action

At time of publication, shares of Solid Biosciences were trading down 3 percent at $24.19.

Related Links:

19 Biotech Stocks With Clinical Trial Outcomes In February

Attention Biotech Investors: February PDUFA Catalysts Come Calling

Latest Ratings for SLDB

May 2019DowngradesBuyNeutral
May 2019DowngradesNeutralUnderperform
Feb 2019DowngradesOutperformMarket Perform

View More Analyst Ratings for SLDB
View the Latest Analyst Ratings

Posted-In: DMD Duchenne Muscular Dystrophy Goldman Sachs Salveen RichterAnalyst Color Price Target Initiation Analyst Ratings Best of Benzinga


Related Articles (PFE + SLDB)

View Comments and Join the Discussion!

Latest Ratings

View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Analysts Break Down The Sec. 232 Steel Investigation

Elliott's Paul Singer Calls Cryptocurrencies A 'Brilliant Scam'