Solid Biosciences up 10% following J.P. Morgan upgrade

georgeclerk J.P. Morgan upgraded Solid Biosciences ( NASDAQ: SLDB ) from neutral to outperform, sending shares of the biotech up 10% Monday.

The firm also raised its price target to $15 from $10 (~89% upside based on July 12 close). Analyst Anupam Rama believes that a recent label expansion for Sarepta Therapeutics' ( SRPT ) Duchenne muscular dystrophy treatment Elevidys bodes well for Solid's own candidate, SGT-003. While phase 1/2 data on the candidate is pending, Rama wrote that "Solid should be able to apply the learnings from competitive late-stage programs to optimize SGT-003's potential future confirmatory study.

" He added that positive data from that study could position SGT-003 well from a reimbursement perspective compared to the competition. More on Solid Biosciences Solid Biosciences rises 15% off expanded Sarepta Duchenne indication Seeking Alpha’s Quant Rating on Solid Biosciences Historical earnings data for Solid Biosciences Financial information for Solid Biosciences.