In a report released today, Gil Blum from Needham reiterated a Buy rating on Solid Biosciences, with a price target of $19.00.
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Gil Blum has given his Buy rating due to a combination of factors that strengthen confidence in Solid Biosciences’ lead program. He highlights that new 90-day biopsy data from the open-label INSPIRE DUCHENNE Phase I/II trial show more consistent dystrophin expression across 20 patients, with reduced variability and what appears to be stabilization of expression levels.
Blum also points to emerging cardiac benefits, noting ongoing improvements in left ventricular ejection fraction, which could become a key differentiator in the eventual product label. Together with safety data from 39 treated patients that remains favorable, he views SGT-003 as standing out versus competing gene therapy programs and therefore reiterates a Buy recommendation on the stock.
In another report released today, Wedbush also maintained a Buy rating on the stock with a $14.00 price target.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SLDB in relation to earlier this year.