Solid Biosciences (NASDAQ:SLDB) Upgraded to “Outperform” at SVB Leerink

SVB Leerink upgraded shares of Solid Biosciences (NASDAQ:SLDB) from a market perform rating to an outperform rating in a research report report published on Monday, MarketBeat.com reports. The firm currently has $12.00 price objective on the stock.

A number of other brokerages have also recently commented on SLDB. William Blair reiterated an outperform rating on shares of Solid Biosciences in a research note on Thursday, March 28th. Barclays cut their price target on shares of Solid Biosciences from $21.00 to $18.00 and set an overweight rating for the company in a research note on Thursday, May 16th. Piper Sandler reiterated an overweight rating and issued a $20.00 price target on shares of Solid Biosciences in a research note on Friday. JPMorgan Chase & Co. cut their price target 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 assumed coverage on shares of Solid Biosciences in a research report on Friday, March 15th. They issued a buy rating and a $16.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Solid Biosciences currently has an average rating of Moderate Buy and a consensus target price of $15.33.

Solid Biosciences Stock Performance

Shares of SLDB opened at $6.62 on Monday. Solid Biosciences has a 12 month low of $1.81 and a 12 month high of $15.05. The firm has a fifty day simple moving average of $8.58 and a 200 day simple moving average of $8.79. The stock has a market capitalization of $254.08 million, a price-to-earnings ratio of -1.68 and a beta of 1.87. 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). Research analysts forecast that Solid Biosciences will post -2.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Solid Biosciences

Hedge funds have recently bought and sold shares of the business. Vestal Point Capital LP bought a new position in Solid Biosciences during the fourth quarter worth about $209,000. Vanguard Group Inc. increased its position in Solid Biosciences by 283.9% during the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after acquiring an additional 920,404 shares during the period. Janus Henderson Group PLC bought a new position in Solid Biosciences during the first quarter worth about $23,935,000. Artal Group S.A. increased its position 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 worth $33,300,000 after acquiring an additional 1,590,781 shares during the period. Finally, Bain Capital Life Sciences Investors LLC increased its position 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 worth $53,741,000 after acquiring an additional 904,160 shares during the period. 81.46% of the stock is owned by institutional investors.

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.