Solid Biosciences (NASDAQ:SLDB) Upgraded at SVB Leerink

SVB Leerink upgraded shares of Solid Biosciences (NASDAQ:SLDB) from a market perform rating to an outperform rating in a research note issued to investors on Monday morning, MarketBeat.com reports. They currently have $12.00 price target on the stock.

Other research analysts also recently issued research reports about the company. HC Wainwright reaffirmed a buy rating and set a $16.00 price target on shares of Solid Biosciences in a research note on Monday, May 20th. Piper Sandler reaffirmed an overweight rating and set a $20.00 price target on shares of Solid Biosciences in a research note on Friday, June 21st. William Blair reissued an outperform rating on shares of Solid Biosciences in a research note on Thursday, March 28th. JPMorgan Chase & Co. cut their target price on shares of Solid Biosciences from $12.00 to $10.00 and set a neutral rating for the company in a research note on Friday, May 31st. Finally, Citigroup started coverage on shares of Solid Biosciences in a research note on Friday, March 15th. They issued a buy rating and a $16.00 target price for the company. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Buy and a consensus target price of $15.33.

Solid Biosciences Price Performance

Shares of NASDAQ SLDB opened at $5.70 on Monday. The firm has a market capitalization of $218.76 million, a P/E ratio of -1.45 and a beta of 1.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.94 and a current ratio of 14.94. Solid Biosciences has a one year low of $1.81 and a one year high of $15.05. The company’s fifty day moving average is $8.41 and its two-hundred day moving average is $8.77.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). Analysts forecast that Solid Biosciences will post -2.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. increased its stake in shares of Solid Biosciences by 26.4% during the 1st quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock valued at $57,682,000 after acquiring an additional 904,160 shares during the last quarter. Bain Capital Life Sciences Investors LLC increased its stake in shares of Solid Biosciences by 28.9% during the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock valued at $53,741,000 after acquiring an additional 904,160 shares during the last quarter. Artal Group S.A. increased its stake in shares of Solid Biosciences by 175.0% during the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock valued at $33,300,000 after acquiring an additional 1,590,781 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Solid Biosciences during the 1st quarter valued at about $23,935,000. Finally, Vanguard Group Inc. increased its stake in shares of Solid Biosciences by 283.9% during the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after acquiring an additional 920,404 shares during the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Company Profile

Solid Biosciences Inc, a life science company, develops therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a gene transfer candidate for the treatment of Duchenne muscular dystrophy; and SGT-501 to treat Catecholaminergic polymorphic ventricular tachycardia.