Solid Biosciences Inc. (NASDAQ:SLDB) Given Consensus Recommendation of “Buy” by Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have received a consensus rating of “Buy” from the nine brokerages that are covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $16.17.

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. raised Solid Biosciences from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $10.00 to $15.00 in a research note on Monday, July 15th. Piper Sandler reissued an “overweight” rating and issued a $20.00 price objective on shares of Solid Biosciences in a research note on Friday, June 21st. Barclays lowered their price objective on Solid Biosciences from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research note on Monday, May 20th. Finally, Leerink Partnrs raised Solid Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th.

Institutional Trading of Solid Biosciences

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

Solid Biosciences Trading Down 9.1 %

NASDAQ SLDB opened at $7.85 on Wednesday. The business’s 50-day moving average price is $7.61 and its two-hundred day moving average price is $9.11. Solid Biosciences has a 12 month low of $1.81 and a 12 month high of $15.05. The firm has a market capitalization of $301.28 million, a PE ratio of -1.99 and a beta of 1.84. The company has a current ratio of 14.94, a quick ratio of 14.94 and a debt-to-equity ratio of 0.01.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Wednesday, May 15th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). On average, analysts expect that Solid Biosciences will post -2.71 EPS for the current year.

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.