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

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have received an average recommendation of “Buy” from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $15.14.

Several equities analysts recently commented on SLDB shares. Chardan Capital reaffirmed a “buy” rating and set a $15.00 target price on shares of Solid Biosciences in a report on Monday, November 11th. William Blair raised Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research report on Thursday, November 7th. JPMorgan Chase & Co. lowered their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, Barclays dropped their price objective on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in shares of Solid Biosciences by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 70,827 shares of the company’s stock valued at $402,000 after purchasing an additional 5,287 shares in the last quarter. MetLife Investment Management LLC increased its position in Solid Biosciences by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock valued at $95,000 after buying an additional 7,719 shares in the last quarter. American Century Companies Inc. raised its stake in Solid Biosciences by 39.9% during the second quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock valued at $196,000 after buying an additional 9,853 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Solid Biosciences in the third quarter worth $71,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Solid Biosciences in the 2nd quarter worth about $58,000. 81.46% of the stock is currently owned by institutional investors.

Solid Biosciences Stock Performance

NASDAQ SLDB opened at $5.79 on Tuesday. Solid Biosciences has a 52-week low of $2.70 and a 52-week high of $15.05. The company has a fifty day moving average of $6.05 and a 200-day moving average of $7.27. The company has a market capitalization of $231.37 million, a P/E ratio of -1.90 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). As a group, analysts forecast that Solid Biosciences will post -2.85 EPS for the current fiscal year.

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.