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

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have earned an average rating of “Buy” from the nine analysts that are covering the company, Marketbeat reports. Eight 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 issued ratings on the stock in the last year is $15.67.

SLDB has been the subject of several recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $20.00 price objective on shares of Solid Biosciences in a report on Friday, June 21st. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a report on Wednesday, August 14th. JPMorgan Chase & Co. upgraded Solid Biosciences from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $10.00 to $15.00 in a report on Monday, July 15th. Barclays cut their price objective on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Finally, Leerink Partners raised Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Monday, June 24th.

Institutional Trading of Solid Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC bought a new position in Solid Biosciences in the 1st quarter valued at about $23,935,000. Artal Group S.A. boosted its position 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 worth $33,300,000 after acquiring an additional 1,590,781 shares in the last quarter. Millennium Management LLC increased its stake in Solid Biosciences by 135.7% in the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock valued at $9,798,000 after acquiring an additional 994,984 shares during the last quarter. Vanguard Group Inc. increased its stake in Solid Biosciences by 283.9% in the first 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. Finally, RA Capital Management L.P. raised its position 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 in the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Trading Up 3.2 %

Shares of SLDB stock opened at $9.03 on Friday. The firm’s fifty day moving average price is $7.94 and its two-hundred day moving average price is $9.23. Solid Biosciences has a 1 year low of $1.81 and a 1 year high of $15.05. The firm has a market capitalization of $346.56 million, a P/E ratio of -2.29 and a beta of 1.84.

Solid Biosciences (NASDAQ:SLDB) last released its earnings results on Tuesday, August 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.05. As a group, equities research analysts forecast that Solid Biosciences will post -2.6 EPS for the current fiscal year.

About Solid Biosciences

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.