Solid Biosciences (SLDB – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on May 15. Analyst Joseph Schwartz from Leerink Partners reiterated a Buy rating on the stock and has a $20.00 price target.
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Joseph Schwartz has given his Buy rating due to a combination of factors surrounding Solid Biosciences’ promising developments with their SGT-003 therapy for Duchenne muscular dystrophy (DMD). The company has reported encouraging data showing strong microdystrophin expression levels in patients, which are indicative of the therapy’s potential efficacy. Additionally, the therapy has demonstrated a favorable safety profile, with no significant adverse effects reported in the patients treated so far.
Solid Biosciences is actively expanding their clinical trial sites and is on track to meet their patient dosing targets, which reflects their commitment to advancing SGT-003 through clinical development efficiently. The company’s strategic approach, including their plans to meet with the FDA, highlights their proactive efforts to bring this therapy to market. These factors, combined with the therapy’s potentially differentiated safety profile due to its lower vector dose, underpin Schwartz’s optimistic outlook and Buy rating.
In another report released on May 16, Jefferies also maintained a Buy rating on the stock with a $15.00 price target.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SLDB in relation to earlier this year.