Why Solid Biosciences Stock Is Crashing Today
Shares of Solid Biosciences (NASDAQ: SLDB) had crashed 31% lower as of 11:15 a.m. EDT on Tuesday. The company announced interim results from a phase 1/2 study of its gene therapy candidate SGT-001 in treating Duchenne muscular dystrophy (DMD) after the market close on Monday.
So those results were bad, right? Actually, no. Solid Biosciences called the data "encouraging," and at least one Wall Street analyst agreed. SVB Leerink's Joseph Schwartz upgraded the biotech stock to outperform from market perform and increased his one-year price target to $15, nearly 58% above Solid's closing price on Monday.
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Source Fool.com
