Leerink Partnrs upgraded shares of Solid Biosciences (NASDAQ:SLDB – Free Report) from a hold rating to a strong-buy rating in a research note published on Monday, Zacks.com reports.
SLDB has been the subject of a number of other reports. Citigroup initiated coverage on Solid Biosciences in a report on Friday, March 15th. They issued a buy rating and a $16.00 price target for the company. HC Wainwright reiterated a buy rating and issued a $16.00 price target on shares of Solid Biosciences in a report on Monday, May 20th. Piper Sandler reiterated an overweight rating and issued a $20.00 price target on shares of Solid Biosciences in a report on Friday. SVB Leerink upgraded Solid Biosciences from a market perform rating to an outperform rating and set a $12.00 price target for the company in a report on Monday. Finally, JPMorgan Chase & Co. lowered their price target on Solid Biosciences from $12.00 to $10.00 and set a neutral rating for the company in a report on Friday, May 31st. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of Buy and an average target price of $15.33.
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Solid Biosciences Price Performance
Solid Biosciences (NASDAQ:SLDB – Get Free Report) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). Analysts predict that Solid Biosciences will post -2.65 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. grew its stake in 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 worth $57,682,000 after buying an additional 904,160 shares during the last quarter. Artal Group S.A. grew its stake in 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 buying an additional 1,590,781 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Solid Biosciences during the 1st quarter worth $23,935,000. Bain Capital Life Sciences Investors LLC boosted its position in Solid Biosciences by 28.9% during the 1st 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. Finally, Vanguard Group Inc. boosted its position in Solid Biosciences by 283.9% during the 1st 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. 81.46% of the stock is currently 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.
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