Solid Biosciences Inc. (NASDAQ:SLDB) Receives Consensus Rating of “Buy” from Brokerages

Solid Biosciences Inc. (NASDAQ:SLDB) has been given an average rating of “Buy” by the nine research firms that are presently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $15.67.

Several research analysts have recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $20.00 target price on shares of Solid Biosciences in a research report on Friday, June 21st. JPMorgan Chase & Co. raised Solid Biosciences from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $10.00 to $15.00 in a research report on Monday, July 15th. Barclays reduced 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. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Wednesday, August 14th. Finally, SVB Leerink raised Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research report on Monday, June 24th.

Solid Biosciences Stock Performance

Shares of NASDAQ:SLDB opened at $9.56 on Friday. Solid Biosciences has a 52-week low of $1.81 and a 52-week high of $15.05. The firm has a market capitalization of $369.02 million, a P/E ratio of -2.43 and a beta of 1.84. The stock has a 50 day moving average price of $7.76 and a 200-day moving average price of $9.19.

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, topping the consensus estimate of ($0.66) by $0.05. On average, equities analysts forecast that Solid Biosciences will post -2.6 EPS for the current fiscal year.

Institutional Trading of Solid Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new position in shares of Solid Biosciences in the 2nd quarter worth $58,000. Ground Swell Capital LLC purchased a new position in shares of Solid Biosciences in the 2nd quarter worth $76,000. Algert Global LLC purchased a new position in shares of Solid Biosciences in the 2nd quarter worth $82,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Solid Biosciences in the 2nd quarter worth $92,000. Finally, Rhumbline Advisers purchased a new position in shares of Solid Biosciences in the 2nd quarter worth $191,000. Institutional investors own 81.46% of the company’s stock.

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.