georgeclerk
- J.P. Morgan upgraded Solid Biosciences (NASDAQ:SLDB) from neutral to outperform, sending shares of the biotech up 10% Monday.
- The firm also raised its price target to $15 from $10 (~89% upside based on July 12 close).
- Analyst Anupam Rama believes that a recent label expansion for Sarepta Therapeutics’ (SRPT) Duchenne muscular dystrophy treatment Elevidys bodes well for Solid’s own candidate, SGT-003.
- While phase 1/2 data on thge candidate is pending, Rama wrote that “Solid should be able to apply the learnings from competitive late-stage programs to optimize SGT-003’s potential future confirmatory study.”
- He added that positive data from that study could position SGT-003 well from a reimbursement perspective compared to the competition.