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On Friday, Jefferies analyst Maury Raycroft adjusted the price target for Solid Biosciences (NASDAQ:SLDB) to $15.00, down from the previous target of $16.00, while sustaining a Buy rating on the stock. According to InvestingPro data, analyst targets currently range from $11 to $20, with the stock trading near its 52-week low of $2.41, significantly below its high of $10.37. Raycroft’s commentary highlighted the company’s adherence to its program timelines, specifically mentioning the planned meeting with the FDA in the fourth quarter to discuss an accelerated approval path for their Duchenne Muscular Dystrophy (DMD) treatment, contingent upon data from at least 10-12 patients at day 90.
The analyst noted that Solid Biosciences had already initiated plans for a placebo-controlled study outside of the United States, which is intended to provide confirmatory evidence for the DMD program. Additionally, Raycroft touched upon the upcoming developments in the company’s pipeline, including the initiation of a Phase Ib program for Friedreich’s Ataxia (FA) that is set to begin dosing patients in the fourth quarter with a unique dual delivery system.
Furthermore, the company is on track to file an Investigational New Drug (IND) application for Catecholaminergic Polymorphic Ventricular Tachycardia (CPVT) in the second quarter and aims to enter clinical trials in the second half of the year. The financial standing of Solid Biosciences was also mentioned, with the analyst reporting a cash reserve of $307 million, which is expected to fund operations into the first half of 2027. InvestingPro subscribers can access detailed financial health metrics and 10 additional ProTips that provide crucial insights into the company’s valuation and operational efficiency.
In other recent news, Solid Biosciences announced promising fourth-quarter 2024 financial results, leading H.C. Wainwright to raise its price target to $20.00 from $16.00 while maintaining a Buy rating. This decision follows the release of initial clinical data from the Phase 1/2 INSPIRE DUCHENNE study, which showed that their gene therapy, SGT-003, achieved a mean 90-day micro-dystrophin expression of 110% of normal levels. JMP Securities also reaffirmed its Market Outperform rating with a $15.00 price target, citing encouraging data from non-human primates and the company’s recent capital raise, which has alleviated previous financial concerns. The recent developments have bolstered confidence in SGT-003’s potential to treat Duchenne Muscular Dystrophy, with no serious adverse events reported in the ongoing clinical trials.
The therapy’s safety profile has been favorable, with no serious adverse events or liver toxicity noted, and no need for immune-modulating agents other than corticosteroids. Analysts anticipate further regulatory discussions with the FDA in the second half of 2025, which are expected to clarify the pathway for potential accelerated approval. Meanwhile, the biotech sector has been rattled by the resignation of Dr. Peter Marks from the FDA, which has raised concerns about potential changes in the regulatory landscape. Despite these broader industry challenges, Solid Biosciences remains focused on advancing its gene therapy solutions. As the company progresses with its clinical and regulatory milestones, investor attention is keenly focused on upcoming data and regulatory updates.
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