In a report released today, Gbola Amusa from Chardan Capital downgraded Solid Biosciences Llc (SLDB) to Hold, with a price target of $7.50. The company’s shares closed yesterday at $8.85, close to its 52-week low of $5.97.
Amusa commented:
“We thus downgrade SLDB from Buy to Neutral. This is not the 1st time Solid has seen unusual side effects in the development of SGT-001. Solid announced the FDA placed a clinical hold on the IGNITE DMD trial after the 1st patient experienced decreased platelet counts, reduced red blood cell counts, and evidence of complement activation. The hold was subsequently lifted, and the company announced changes to the trial protocol, including 1) the use of IV glucocorticoids in the initial weeks after treatment; 2) additional monitoring after dosing; and, 3) the option to collect a biopsy at 45 days post-treatment.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 16.2% and a 47.9% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Iovance Biotherapeutics Inc, and Logicbio Therapeutics Inc.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Solid Biosciences Llc.
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The company has a one-year high of $54.84 and a one-year low of $5.97. Currently, Solid Biosciences Llc has an average volume of 737.9K.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock.
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Solid Biosciences, Inc. engages in the development of treatments for patients with Duchenne muscular dystrophy. It develops gene therapies, disease modifying therapies, and assistive devices for the cure of DMD. The company was founded by Ilan Ganot, Andrey J. Zarur, Matthew Arnold, Annie Ganot and Gilad David Hayeem in March 2013 and is headquartered in Cambridge, MA.
