Solid Biosciences (SLDB) PT Raised to $12.50 at Chardan Capital Markets

Chardan Capital Markets analyst Gbola Amusa raised the price target on Solid Biosciences (NASDAQ: SLDB) to $12.50 while maintaining a Buy rating after the FDA lifted the clinical hold on the phase I/II IGNITE DMD trial of AAV9-based gene therapy (GT) SGT-001 in Duchenne muscular dystrophy (DMD).

Amusa commented, "Today's news is an important positive, given: (1) manufacturing constraints in the space leave an opportunity for Solid, and (2) the view from many in the market that SGT-001 may not return to the clinic. In our 9 May 2020 research, we noted a resolution of the clinical hold could be a catalyst for performance. The clinical hold resolution shows management has communicated in a transparent fashion and has put SGT-001 back on course."

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