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SLDB

Solid Biosciences

$44.15

14.885 (50.86%)

, SRPT

Sarepta

$143.02

37.54 (35.59%)

14:45
06/19/18
06/19
14:45
06/19/18
14:45

JPMorgan says 'outsized' move in Solid Biosciences leaves material downside risk

JPMorgan analyst Anupam Rama does not deny that Sarepta's (SRPT) micro-dystrophin data establishes proof-of-concept for the space and there should be a positive read-through for Solid Biosciences (SLDB). However, Rama thinks the move up in Solid has been "outsized," leaving material downside risk, given that Solid noted just yesterday that the first update from the SGT-001 MD program will be in potentially more than 12 months out. Also being underappreciated is that Sarepta has set a benchmark that Solid will now have to meet and ultimately beat, Rama tells investors. The analyst increased his price target on Solid shares to $29 from $10 but reiterates an Underweight rating on the stock, which is up 46% to $42.98 in afternoon trading.

SLDB

Solid Biosciences

$44.15

14.885 (50.86%)

SRPT

Sarepta

$143.02

37.54 (35.59%)

  • 20

    Jun

SLDB Solid Biosciences
$44.15

14.885 (50.86%)

04/02/18
LEER
04/02/18
NO CHANGE
Target $14
LEER
Outperform
Solid Biosciences price target lowered to $14 from $36 at Leerink
Leerink analyst Joseph Schwartz lowered his price target for Solid Biosciences to $14 from $36 saying that while it was able to withstand several initial concerns that were addressed when the company was going public - including preclinical safety, a board member resignation, manufacturing issues -, Solid Biosciences' recent clinical hold announcement was "the straw that broke the camel's back" resulting in a massive selloff. The analyst reiterates an Outperform rating on the shares.
05/10/18
LEER
05/10/18
NO CHANGE
Target $28
LEER
Outperform
Solid Biosciences price target raised to $28 from $14 at Leerink
Leerink analyst Joseph Schwartz raised his price target on Solid Biosciences to $28 from $14 after he updated his model to reflect Q1 results and increased his probability of success estimate for SGT-001 to 30% from 20%. His probability of success estimate for SB-001 is unchanged at 20%, he noted. Schwartz keeps an Outperform rating on Solid Biosciences shares.
05/15/18
LEER
05/15/18
NO CHANGE
Target $121
LEER
Outperform
Sarepta price target raised to $121 from $88 at Leerink
Leerink analyst Joseph Schwartz raised his price target for Sarepta (SRPT) to $121 from $88, while reiterating an Outperform rating on the shares. The analyst notes that Sarepta is one of three companies developing microdystrophin gene therapy for Duchenne muscular dystrophy, in competition with Pfizer (PFE) who acquired Bamboo, and Solid Biosciences (SLDB). With Solid's clinical hold still in place, Sarepta could potentially be first-to-market, and is expected to report the first clinical data for a micro-dystrophin candidate at their R&D day on June 19, he adds.
06/15/18
JPMS
06/15/18
NO CHANGE
JPMS
Overweight
JPMorgan sees favorable setup for Sarepta into Tuesday's event
JPMorgan analyst Anupam Rama sees a favorable setup for shares of Sarepta Therapeutics(SRPT) into the company's R&D day on Tuesday, June 19. His scenario analysis points to a "very favorable" reward/risk profile of 20%-50% upside versus 10%-25% downside. If the gene therapy data meets or beats expectations, Sarepta will clearly be in the pole position in the micro-dystrophin space, Rama tells investors in a research note. The analyst adds that if the Sarepta micro-dystrophin data are viewed positively next week, a clear bar will have been set that Solid Biosciences (SLDB) will need to meet or beat. Rama continues to see risk to Solid shares ahead of next week's readout from Sarepta. He has an Overweight rating on Sarepta with an $87 price target and Underweight rating on Solid Biosciences with a $10 price target.
SRPT Sarepta
$143.02

37.54 (35.59%)

06/15/18
06/15/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. PetMed Express (PETS) initiated with a Neutral at CL King. 2. Cloudera (CLDR) initiated with a Reduce at Nomura Instinet. 3. Sarepta (SRPT) initiated with a Buy at BTIG. 4. Delphi Technologies (DLPH) initiated with a Perform at Oppenheimer. 5. Enerplus (ERF) initiated with a Buy at SunTrust. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/19/18
JPMS
06/19/18
NO CHANGE
JPMS
Sarepta data beat 'grand slam scenario,' says JPMorgan
JPMorgan analyst Anupam Rama says the micro-dystrophin data reported this morning by Sarepta Therapeutics beat his "grand slam scenario." The stock in morning trading is up 59% to $166.99.
06/19/18
JPMS
06/19/18
NO CHANGE
Target $205
JPMS
Overweight
Sarepta price target raised to $205 from $87 at JPMorgan
JPMorgan analyst Anupam Rama said he is adding Sarepta's micro-dystrophin program to his model following the company's R&D day, reiterating his earlier call that the update "vastly exceeded" expectations. He estimates peak sales of $4B-$5B for the micro-dystrophin program, adding that the breadth of the pipeline highlighted at the R&D day leads him to believe Sarepta has the potential to enter the ranks of the "emerging large-caps" in the next 12-24 months. Rama raised his price target on Sarepta to $205 from $87 and keeps an Overweight rating on the shares.
06/19/18
HCWC
06/19/18
NO CHANGE
HCWC
Sarepta price target raised to $267 from $96 at H.C. Wainwright
H.C. Wainwright analyst Debjit Chattopadhyay maintained a Buy rating on Sarepta, and raised his price target to $267 from $96 following the company's R&D day. Chattopadhyay said this is "what a home run looks like!" He added that the data shown "are an immense positive for the DMD patient community and a shot in the arm for broader gene therapy approaches targeting a variety of neuromuscular disorders."

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  • 28

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YNDX

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$27.71

0.29 (1.06%)

, GOOG

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$1,102.24

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$10.74

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F

Ford

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  • 24

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ZION

Zions Bancorp

$45.92

-1.05 (-2.24%)

13:55
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