Solid Biosciences (SLDB) has received a new Buy rating, initiated by Citi analyst, Yigal Nochomovitz.
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Yigal Nochomovitz has given his Buy rating due to a combination of factors that make Solid Biosciences an attractive investment opportunity. The company’s stock is currently trading at a relatively low enterprise value compared to its potential to achieve significant peak sales in the U.S. market for its Duchenne muscular dystrophy (DMD) gene therapy. This presents a favorable risk/reward scenario, especially as safety concerns have recently emerged for a key competitor’s product.
Solid Biosciences’ DMD gene therapy, SGT-003, is in its early stages but shows promising differentiation from competitors. It has demonstrated no signs of liver toxicity, which could be due to its muscle-targeting vector, and appears to have stronger efficacy metrics in muscle restoration. A survey of U.S. neurologists indicates positive views on SGT-003, with expectations that it could capture significant market share if it maintains its safety profile. This potential for a safer treatment option is a key factor in Nochomovitz’s Buy rating.
According to TipRanks, Nochomovitz is a 4-star analyst with an average return of 3.4% and a 38.98% success rate. Nochomovitz covers the Healthcare sector, focusing on stocks such as Travere Therapeutics, Arcturus Therapeutics, and Summit Therapeutics.
In another report released on June 23, Piper Sandler also maintained a Buy rating on the stock with a $17.00 price target.