JMP reiterates Market Outperform rating on Solid Biosciences stock at $15

Investing.com - JMP Securities has reiterated its Market Outperform rating and $15.00 price target on Solid Biosciences (NASDAQ:SLDB), citing progress in the company’s gene therapy programs. The target sits well within the current analyst range of $10-$20, with InvestingPro data showing strong consensus recommendations for the stock, which currently trades at $5.31.

The firm highlighted Solid Biosciences’ development of AAV-gene therapy treatments for multiple conditions including Duchenne Muscular Dystrophy, Friedreich’s Ataxia, and CPVT, leveraging specialized capsids and manufacturing capabilities. With a market capitalization of $413 million and a FAIR financial health rating according to InvestingPro, the company maintains a strong cash position relative to its debt obligations.

JMP noted that the company’s lead asset SGT-003, which uses a modified AAV9 muscle tropic capsid called AAV-SLB101 for DMD, has been safely administered to 15 patients as of Monday at a dosage of 2E14 vg/kg. Get access to 8 additional exclusive InvestingPro Tips and comprehensive analysis through the detailed Pro Research Report, available on InvestingPro.

The safety profile appears strong, with only one adverse event reported - a grade 1 case of elevated liver enzymes during steroid taper that resolved with a slowed steroid taper and showed no clinical manifestation.

Solid Biosciences plans to discuss regulatory pathways with the FDA in Q4 2025 and is expected to provide a regulatory update along with 90-day biomarker data from more than 10-15 patients shortly after this interaction.

In other recent news, Solid Biosciences has received Fast Track designation from the U.S. Food and Drug Administration for its gene therapy candidate SGT-501, aimed at treating catecholaminergic polymorphic ventricular tachycardia (CPVT). This status allows for more frequent interactions with the FDA and potential eligibility for priority review. Additionally, JMP Securities has reiterated its Market Outperform rating on Solid Biosciences, maintaining a $15.00 price target, highlighting progress in the company’s Duchenne muscular dystrophy (DMD) program. The firm noted that Solid Biosciences has already dosed 15 DMD patients ahead of schedule. Cantor Fitzgerald also reiterated an Overweight rating with a $16.00 price target, while Citi maintained a Buy rating with a $14.00 price target amid safety concerns surrounding a competitor’s treatment. Citi’s decision follows an FDA investigation into Sarepta’s Elevidys treatment after two patient deaths, resulting in a black box warning. These developments highlight the ongoing interest and potential in Solid Biosciences’ therapeutic programs.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.