Barclays Trims Solid Biosciences (NASDAQ:SLDB) Target Price to $15.00

Solid Biosciences (NASDAQ:SLDB) had its price target lowered by Barclays from $18.00 to $15.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

SLDB has been the topic of several other research reports. Leerink Partnrs upgraded shares of Solid Biosciences from a hold rating to a strong-buy rating in a report on Monday, June 24th. Piper Sandler reiterated an overweight rating and set a $20.00 price objective on shares of Solid Biosciences in a research note on Friday, June 21st. SVB Leerink upgraded shares of Solid Biosciences from a market perform rating to an outperform rating and set a $12.00 target price for the company in a research note on Monday, June 24th. HC Wainwright reaffirmed a buy rating and set a $16.00 price target on shares of Solid Biosciences in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised Solid Biosciences from a neutral rating to an overweight rating and raised their price objective for the stock from $10.00 to $15.00 in a research report on Monday, July 15th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Solid Biosciences presently has an average rating of Buy and a consensus price target of $15.67.

Solid Biosciences Price Performance

NASDAQ SLDB opened at $8.87 on Wednesday. The company has a market cap of $342.38 million, a PE ratio of -2.25 and a beta of 1.84. The firm’s 50 day moving average price is $7.61 and its 200-day moving average price is $9.10. 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 52-week low of $1.81 and a 52-week high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Tuesday, August 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.05. Sell-side analysts forecast that Solid Biosciences will post -2.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SLDB. Algert Global LLC acquired a new position in Solid Biosciences in the 2nd quarter worth approximately $82,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Solid Biosciences in the 2nd quarter valued at $92,000. Millennium Management LLC increased its stake in shares of Solid Biosciences by 135.7% in the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock worth $9,798,000 after acquiring an additional 994,984 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Solid Biosciences during the second quarter worth $412,000. Finally, Point72 DIFC Ltd acquired a new position in Solid Biosciences during the second quarter valued at $58,000. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

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.