Solid Biosciences Inc. (NASDAQ:SLDB) Receives $15.67 Average PT from Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been given an average rating of “Buy” by the eight ratings firms that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $15.67.

A number of research analysts have weighed in on SLDB shares. JPMorgan Chase & Co. raised shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $10.00 to $15.00 in a research report on Monday, July 15th. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research report on Wednesday, August 14th. Leerink Partnrs upgraded Solid Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, June 24th. William Blair upgraded Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Leerink Partners upgraded 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.

Hedge Funds Weigh In On Solid Biosciences

A number of institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC bought a new position in shares of Solid Biosciences during the first quarter worth about $23,935,000. Artal Group S.A. grew its position in shares of Solid Biosciences by 175.0% in 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 grew its position in shares of Solid Biosciences by 135.7% in the 2nd 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 in the last quarter. Vanguard Group Inc. increased its holdings in shares of Solid Biosciences by 283.9% in the 1st 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 shares of Solid Biosciences by 26.4% during the 1st quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock valued at $57,682,000 after acquiring an additional 904,160 shares in the last quarter. 81.46% of the stock is owned by institutional investors and hedge funds.

Solid Biosciences Trading Up 5.7 %

Shares of Solid Biosciences stock opened at $7.01 on Monday. The business’s fifty day moving average price is $7.83 and its 200 day moving average price is $8.34. Solid Biosciences has a twelve month low of $1.81 and a twelve month high of $15.05. The stock has a market capitalization of $269.04 million, a P/E ratio of -1.78 and a beta of 1.90.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.61) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.05. As a group, sell-side analysts predict that Solid Biosciences will post -2.61 EPS for the current 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.