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Fly News Breaks for June 20, 2018
SRPT, SLDB
Jun 20, 2018 | 15:00 EDT
Leerink analyst Joseph Schwartz raised his price target for Solid Biosciences (SLDB) to $50 from $28, while reiterating an Outperform rating on the stock. The analyst notes that since the company announced that the FDA lifted the clinical hold on SGT-001 for Duchenne muscular dystrophy on June 18, the stock experienced a boost from a coincidentally timed positive read-through from Sarepta's (SRPT) R&D day on June 19. However, the stock has come down from its recent highs following these two events, which the analyst believes presents another buying opportunity. Schwartz is also raising his PoS to 55% from 30% and assuming that Solid Biosciences receives a priority review voucher and sells it for $100M.
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