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SLDB

Solid Biosciences

$34.48

-2 (-5.48%)

, SRPT

Sarepta

$139.53

-6.32 (-4.33%)

06:56
11/06/18
11/06
06:56
11/06/18
06:56

Solid Biosciences initiated with a Sell at Citi

Citi analyst Joel Beatty started Solid Biosciences (SLDB) with a Sell rating and $25 price target. The analyst believes the gene therapy agents in clinical development for Duchenne muscular dystrophy by Sarepta (SRPT) and Pfizer (PFE) will leave little market share to Solid Bio's SGT-001. The analyst forecasts Sarepta capturing the largest share of the DMD gene therapy market, followed by Pfizer, and then Solid.

SLDB

Solid Biosciences

$34.48

-2 (-5.48%)

SRPT

Sarepta

$139.53

-6.32 (-4.33%)

PFE

Pfizer

$43.52

0.6 (1.40%)

  • 06

    Nov

  • 07

    Nov

  • 12

    Nov

SLDB Solid Biosciences
$34.48

-2 (-5.48%)

06/19/18
JPMS
06/19/18
NO CHANGE
Target $29
JPMS
Underweight
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.
09/06/18
FBCO
09/06/18
INITIATION
Target $38
FBCO
Neutral
Solid Biosciences initiated with a Neutral at Credit Suisse
Credit Suisse analyst Martin Auster started Solid Biosciences with a Neutral rating and $38 price target. The analyst notes that the company's DMD gene therapy, SGT-001, has clear mechanistic rationale and is well supported by preclinical proof-of-concept. Auster anticipates clinical differentiation, time to market, and durability will be among the most meaningful arbiters of value among the three clinical stage DMD gene therapy products and expects longer term data to refine his thinking and modeling assumptions.
06/25/18
NOMU
06/25/18
NO CHANGE
Target $57
NOMU
Buy
Solid Biosciences price target raised to $57 from $37 at Nomura Instinet
Nomura Instinet analyst Christopher Marai raised his price target on Solid Biosciences (SLDB) to $57 from $37 after Sarepta (SRPT) presented key biopsy data showing biochemical success of the AAV/microdystrophin approach, which Solid is also investigating. Marai maintains his Buy rating on Solid Biosciences shares.
06/20/18
LEER
06/20/18
NO CHANGE
Target $50
LEER
Outperform
Solid Biosciences price target raised to $50 from $28 at Leerink
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.
SRPT Sarepta
$139.53

-6.32 (-4.33%)

10/16/18
JMPS
10/16/18
NO CHANGE
Target $270
JMPS
Outperform
JMP likes risk-reward in Sarepta deal for MPS IIIA gene therapy
After Sarepta announced a deal to gain U.S. commercial rights to a potential gene therapy treatment for Mucopolysaccharidosis type IIIA, or MPS IIIA, JMP Securities analyst Liisa A. Bayko said she likes the risk-reward given the relatively limited committed capital and development responsibilities in exchange for full U.S. rights to a late-stage "shot on goal." The analyst, who noted this represents Sarepta's fourth gene therapy deal this year, keeps an Outperform rating and $270 price target on Sarepta shares.
10/25/18
PIPR
10/25/18
NO CHANGE
Target $168
PIPR
Overweight
Sarepta price target lowered to $168 from $189 at Piper Jaffray
Piper Jaffray analyst Edward Tenthoff lowered his price target for Sarepta Therapeutics to $168 from $189 and keeps an Overweight rating on the name following the company's Q3 results. Exondys51 sales were in-line at $78.5M in Q3 and management reiterated guidance of $295-$305M for this year, Tenthoff tells investors in a research note. He believes Exondys51 sales of $300M this year "are plateauing" and now forecasts $344M of sales in 2019. The analyst, however, says micro-dystrophin GeneRx is advancing and could treat up to 70% of Duchenne muscular dystrophy boys. He thinks this will erode exon-skipping sales upon approval in 2020.
10/12/18
BERN
10/12/18
INITIATION
Target $170
BERN
Outperform
Sarepta initiated with an Outperform at Bernstein
Bernstein analyst Vincent Chen initiated Sarepta with an Outperform rating and $170 price target. In a research note to investors, Chen says that a "confluence" of factors make DMD a best case scenario, and very high value, for gene therapy, and while he says manufacturing is not easy, he does not think it will be a problem. Chen says he is "fairly" confident Sarepta can succeed after a deep dive into gene therapy manufacturing.
10/04/18
JANY
10/04/18
NO CHANGE
Target $200
JANY
Buy
Sarepta micro-dystrophin gene therapy update continues to impress, says Janney Montgomery Scott
Janney Montgomery Scott analyst Yun Zhong believes the three-month muscle biopsy data from the fourth patient and the functional results from all four patients that Sarepta reported at the Annual Congress of the World Muscle Society provide "strong" additional evidence to support a favorable clinical profile of the micro-dystrophin gene therapy program. The analyst notes that management has requested a meeting with the FDA and he continues to expect the agency to be supportive for an expedited regulatory pathway. Upon FDA feedback, patient dosing in the pivotal study could begin in Q4 of 2018/Q1 of 2019, he contends. Additionally, Zhong expects the initial data from the LGMD2E gene therapy program to be positive, based on a readthrough from the micro-dystrophin program. He reiterates a Buy rating and $200 fair value estimate on the shares.
PFE Pfizer
$43.52

0.6 (1.40%)

10/31/18
ADAM
10/31/18
NO CHANGE
Target $87
ADAM
Buy
Exact Sciences bull case intact following beat and raise, says Canaccord
Canaccord analyst Mark Massaro said the bull case for Exact Sciences (EXAS) remains intact after the company delivered another beat and raise quarterly result. The analyst believes the focus will now turn to how well the Pfizer (PFE) and Exact Sciences sales reps work together in Q4 and beyond. Massaro reiterated his Buy rating and $87 price target on Exact Sciences shares.
11/01/18
BMOC
11/01/18
DOWNGRADE
BMOC
Market Perform
Pfizer downgraded to Market Perform from Outperform at BMO Capital
11/01/18
BMOC
11/01/18
DOWNGRADE
Target $46
BMOC
Market Perform
Pfizer downgraded to Market Perform at BMO Capital on valuation
As reported earlier, BMO Capital analyst Alex Arfaei downgraded Pfizer to Market Perform from Outperform and lowered his price target to $46 from $47. The analyst maintains a positive view on the company longer-term but sees valuation at current levels reflecting its risk-reward profile. Arfaei points to potential headwinds facing Pfizer that include immuno-oncology R&D execution, along with disappointing sales from Prevnar, Ibrance, Xtandi, and Xeljanz. The analyst also believes that the positives of margin expansion and the prospects of Pfizer's pipeline assets like Tafamidis and Tanezumab are accounted by its stock price.
11/01/18
11/01/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Pfizer (PFE) downgraded to Market Perform from Outperform at BMO Capital with analyst Alex Arfaei saying he maintains a positive view on the company longer-term but sees valuation at current levels reflecting its risk-reward profile. 2. Encana (ECA) downgraded to Underperformer from Neutral at CIBC. 3. New Oriental Education (EDU) downgraded to Hold from Buy at Deutsche Bank with analyst Tallan Zhou saying he expects "lingering margin pressure" following Q1 results. 4. Autoliv (ALV) downgraded to Neutral from Buy at Longbow with analyst Anthony Deem saying he sees the company's revenue growth being "very solid" through 2020 in mid-to-high single digit percentage territory, but he is less confident in positive operating leverage due to incremental cost overruns associated with new launches. 5. Aegion (AEGN) downgraded to Hold from Buy at Canaccord with analyst Chip Moore saying the company is a well positioned pipeline infrastructure play that is poised to benefit from attractive secular drivers longer-term, but the risk/reward is balanced at current levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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