Solid Biosciences initiated with an Outperform at William Blair

William Blair analyst Tim Lugo initiated coverage of Solid Biosciences with an Outperform rating and $40 fair value estimate. Solid is a development-stage biotechnology company transitioning to novel “best-in-class or first-in-class” gene therapies for rare neuromuscular and cardiac diseases, the analyst tells investors in a research note. The firm believes the company is entering a period in which it will be a “fast follower” in Duchenne muscular dystrophy. It is developing cardiac gene therapies to address some of the most prevalent rare diseases that could ultimately be first- and best-in-class blockbusters, contends Blair.