Market Overview

Analyst: Solid Biosciences A Solid Buy On Sarepta's Progress

Analyst: Solid Biosciences A Solid Buy On Sarepta's Progress

The Street grew more bullish on Solid Biosciences Inc (NASDAQ: SLDB) last week following progress announcements on Solid and peer candidates. At least three analysts raised their valuation targets:

The Rating

Chardan analyst Gbola Amusa maintained a Buy rating on the stock, but increased his price target from $37.50 to $60.

The Thesis

Amusa was inspired by both the mid-June removal of a clinical hold on SGT-001 and encouraging trial data from Solid, Sarepta Therapeutics Inc (NASDAQ: SRPT) and Pfizer Inc. (NYSE: PFE) proving the efficacy of AAV-based gene therapies in Duchenne muscular dystrophy.

“Positive early data from clinical trials from 3 different companies, to us, supports the utility of microdystrophin GT in a devastating disease with no effective approved therapies,” Amusa wrote in a note.

The analyst reiterated preference for Solid over Sarepta or Pfizer for its “superior” microdystrophin construct, vector and trial design.

Based on the study developments, Chardan anticipates launch of AAV-based therapies in 2022 rather than the previously estimated 2023, with 66.5 percent adoption among U.S. DMD patients by 2030.

With Solid expected to seize 25 percent to 37.5 percent of that market, Amusa forecasts 2024 sales of SGT-001 at $2.76 billion.

Price Action

Shares last closed at $42.07.

Related Links:

Goldman Sachs Gets Firm On Solid Biosciences

Analyst: Sarepta's DMD Gene Therapy Results 'Dramatic And Far Exceeding Expectations'

Latest Ratings for SLDB

Nov 2019MaintainsBuy
Oct 2019Initiates Coverage OnOutperform
Aug 2019DowngradesNeutralSell

View More Analyst Ratings for SLDB
View the Latest Analyst Ratings

Posted-In: Chardan Duchenne Muscular Dystrophy Gbola AmusaAnalyst Color Price Target Reiteration Analyst Ratings Best of Benzinga


Related Articles (PFE + SLDB)

View Comments and Join the Discussion!

Latest Ratings

VIACJP MorganReinstates50.0
NUVASVB LeerinkMaintains92.0
SRPTCantor FitzgeraldMaintains211.0
LULUGoldman SachsMaintains219.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
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.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
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

The Market In 5 Minutes: Bonds, Treasury Yields, Russell Rebalance And More

A Less Volatile Basket Of Global Stocks