Leerink Partners analyst Joseph Schwartz reiterated a Buy rating on Solid Biosciences on August 13 and set a price target of $20.00.
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Joseph Schwartz has given his Buy rating due to a combination of factors that highlight Solid Biosciences’ promising progress in their Duchenne muscular dystrophy (DMD) program. The company has successfully dosed 15 patients with SGT-003 in their Phase 1/2 INSPIRE DUCHENNE study, and they have expanded their reach with 10 active sites across multiple countries, with plans to activate more by the end of the year. This expansion indicates strong momentum in patient recruitment and engagement.
Moreover, the safety profile of SGT-003 appears favorable, with no treatment-emergent serious adverse events reported and only one minor adverse event of special interest. The company’s strategic approach, including plans for a randomized, double-blind, placebo-controlled study to support global regulatory submissions, further strengthens their position. Additionally, Solid Biosciences’ focus on addressing unmet needs for non-ambulatory DMD patients and their engagement with the FDA for regulatory discussions in the US are pivotal steps that could enhance investor confidence in the company’s potential for success.
According to TipRanks, Schwartz is a 5-star analyst with an average return of 17.2% and a 49.20% success rate. Schwartz covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Ascendis Pharma, and KalVista Pharmaceuticals.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $16.00 price target.