Solid Biosciences price target lowered to $16 from $17 at Wedbush

Wedbush lowered the firm’s price target on Solid Biosciences (SLDB) to $16 from $17 and keeps an Outperform rating on the shares. Most important in the Q1 update from Solid Biosciences, SGT-003 regulatory interactions and clinical advancement remain on track, the firm says. The company completed SGT-003 dosing in 47 subjects in the Phase 1/2 INSPIRE study and started dosing in the Phase 3 IMPACT study last week. Solid Biosciences will continue FDA interactions with a third meeting in the Fall timeframe. Wedbush continues to hold a positive bias on SGT-003 and the Solid Biosciences story.