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

Solid Biosciences Inc. (NASDAQ:SLDB) has received a consensus rating of “Buy” from the eight research firms that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $15.67.

Several equities research analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research note on Thursday. JPMorgan Chase & Co. raised Solid Biosciences from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $10.00 to $15.00 in a research note on Monday, July 15th. Barclays dropped their price target 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. Finally, William Blair raised Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake 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. Janus Henderson Group PLC bought a new stake in shares of Solid Biosciences in the 1st quarter valued at about $23,935,000. Acadian Asset Management LLC bought a new stake in shares of Solid Biosciences in the 2nd quarter valued at about $379,000. Cubist Systematic Strategies LLC bought a new stake in shares of Solid Biosciences in the 2nd quarter valued at about $412,000. Finally, Millennium Management LLC lifted its stake 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 valued at $9,798,000 after acquiring an additional 994,984 shares during the last quarter. Institutional investors own 81.46% of the company’s stock.

Solid Biosciences Stock Performance

Shares of NASDAQ SLDB opened at $5.77 on Friday. The stock has a market cap of $222.72 million, a PE ratio of -1.75 and a beta of 1.92. Solid Biosciences has a fifty-two week low of $2.00 and a fifty-two week high of $15.05. The stock has a fifty day moving average of $6.91 and a 200-day moving average of $7.78.

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 the consensus estimate of ($0.67) by ($0.12). On average, sell-side analysts predict that Solid Biosciences will post -2.61 EPS for the current 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.