Solid Biosciences initiated with a Buy at Citi

Citi analyst David Hoang initiated coverage of Solid Biosciences with a Buy rating and $16 price target. The stock is up 35% over the past month as the market gains a greater appreciation of the company’s gene therapy pipeline, the analyst tells investors in a research note. The firm says Solid’s SGT-003 “uniquely contains the nNOS binding domain and omits several hinge regions, potentially creating a best-in-class microdystrophin that could increase muscle durability.”