Solid Biosciences price target raised to $16 from $15 at Chardan

Chardan raised the firm’s price target on Solid Biosciences (SLDB) to $16 from $15 and keeps a Buy rating on the shares. The company has reported initial clinical data from the first 3 patients in the phase 1/2 INSPIRE DUCHENNE trial evaluating SGT-003, showing robust vector transduction and microdystrophin expression in the muscle, improvements in biomarkers of muscle integrity, and early signals of potential cardiac benefit, and based on these early activity signals in conjunction with acceptable safety, the firm is increasing its probability of success for the program to 48%, the analyst tells investors in a research note.