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On Friday, Piper Sandler adjusted its price target for Solid Biosciences stock (NASDAQ:SLDB), lowering it to $17.00 from the previous target of $20.00. Despite the reduction, the firm maintained its Overweight rating on the company’s shares. According to InvestingPro data, the stock has faced significant headwinds, declining over 70% in the past year, with shares currently trading at $2.86.
The adjustment followed Solid Biosciences’ first-quarter financial results and business update. While InvestingPro analysis shows the company holds more cash than debt and maintains strong liquidity with a current ratio of 10.89, it’s currently experiencing rapid cash burn. The company is actively administering doses in the Phase 1/2 INSPIRE DUCHENNE trial. A data update involving approximately 10 to 12 patients is anticipated in the fourth quarter of 2025, subsequent to a planned meeting with the FDA to discuss the accelerated approval pathway.
In addition to the ongoing trial, Solid Biosciences is preparing to launch a first-in-human Phase 1b study for Friedreich’s Ataxia with its investigational therapy, SGT-212. The study, slated to begin in the fourth quarter of 2025, will encompass both ambulatory and non-ambulatory patients.
Solid Biosciences also shared that it had successfully completed preclinical non-human primate work with its CPVT gene therapy, SGT-501, within the first quarter of 2025. Following this development, the company is on track to submit an Investigational New Drug (IND) application in the first half of 2025.
The company’s efforts in advancing its clinical programs appear to be on schedule, with significant milestones expected in the near future. The price target revision by Piper Sandler reflects the latest updates and ongoing progress in Solid Biosciences’ therapeutic pipeline. Based on InvestingPro Fair Value analysis, the stock appears slightly undervalued at current levels. Investors can access detailed financial health metrics, additional ProTips, and comprehensive analysis through InvestingPro’s detailed research report, available alongside 1,400+ other US stocks.
In other recent news, Solid Biosciences has been the focus of multiple analyst updates and developments surrounding its Duchenne muscular dystrophy (DMD) therapy, SGT-003. H.C. Wainwright raised its price target for Solid Biosciences to $20, reflecting increased confidence in the company’s promising initial clinical data for SGT-003. The therapy showed a mean 90-day micro-dystrophin expression of 110% of normal levels, a robust result compared to other DMD gene therapies. Meanwhile, JMP Securities maintained a Market Outperform rating with a $15 price target, citing positive first-in-human data and anticipated regulatory discussions. Jefferies also adjusted its price target to $15 from $16, maintaining a Buy rating and noting the company’s adherence to its program timelines.
Solid Biosciences is set to discuss an accelerated approval path for SGT-003 with the FDA, contingent upon data from at least 10-12 patients. The company plans to conduct a placebo-controlled study outside the U.S. to confirm the therapy’s effectiveness. The recent resignation of Dr. Peter Marks from the FDA has shaken the biotech sector, with Solid Biosciences among those affected by concerns over regulatory changes. Despite these challenges, the company’s financial position remains strong, with $307 million in cash reserves expected to fund operations into the first half of 2027.
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