Chardan raises Solid Biosciences price target 250%

• Solid Biosciences (SLDB +81.0%) 'shines brightly' today after the FDA lifts hold on Duchenne study, evaluating its gene therapy candidate SGT-001. In November 2019, the study was put on clinical hold, for the second time, after a participant experienced a serious adverse event related to compound, with first hold in March 2018 after a participant was hospitalized for decreased platelet.
• In reaction to today's news, Chardan analyst Gbola Amusa raised the price target to $12.50 from $5 and keeps a Buy rating. According to analyst, today's news is an "important positive" given that manufacturing constraints in the space leave an opportunity for Solid, and the view from many in the market that SGT-001 may not return to the clinic.
• He also notes that Duchenne muscular dystrophy is a "vast opportunity" for gene therapies, and one that could take Solid "significantly past" the new price target with progress.
• https://seekingalpha.com/news/3619058-chardan-raises-solid-biosciences-price-target-250