Cantor Fitzgerald reiterates Overweight rating on Solid Biosciences stock

Investing.com - Cantor Fitzgerald has reiterated an Overweight rating and $16.00 price target on Solid Biosciences (NASDAQ:SLDB) following investor meetings with the company’s management in Boston on Wednesday. The target represents significant upside potential from the current price of $5.42, with analyst targets ranging from $10 to $20. The stock has shown strong momentum, gaining over 47% in the past six months.

The investment firm hosted meetings with Solid Biosciences’ CEO, CFO, and Director of IR & Corporate Communications, where discussions primarily centered on the Duchenne muscular dystrophy (DMD) and gene therapy landscape.

Cantor Fitzgerald noted that the conversations highlighted how Solid Biosciences is differentiated with its SGT-003 candidate in the DMD space.

The firm expressed encouragement about investor interest in Solid Biosciences’ next two candidates: SGT-212 for Friedreich’s ataxia (FA) and SGT-501 for catecholaminergic polymorphic ventricular tachycardia (CPVT).

According to Cantor Fitzgerald, patients could potentially be treated with these two newer candidates later this year.

In other recent news, Solid Biosciences received FDA approval for its Investigational New Drug application for SGT-501, a gene therapy targeting catecholaminergic polymorphic ventricular tachycardia (CPVT). This therapy is designed to address a rare genetic heart condition that currently lacks FDA-approved treatments. In related developments, Citi initiated coverage on Solid Biosciences with a buy rating, highlighting the potential of its Duchenne muscular dystrophy (DMD) market presence, particularly with its SGT-003 gene therapy. Meanwhile, Cantor Fitzgerald maintained an Overweight rating on the company, citing encouraging early data from SGT-003. H.C. Wainwright also reaffirmed its Buy rating, noting the favorable safety profile of SGT-003 compared to competitors. Truist Securities reiterated a Buy rating, emphasizing the progress of Solid Biosciences’ gene therapy programs for DMD, Friedreich’s ataxia, and CPVT. These developments indicate a strong focus on expanding Solid Biosciences’ therapeutic pipeline and navigating regulatory pathways.

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