Solid Biosciences’ (SLDB) “Buy” Rating Reaffirmed at HC Wainwright

Solid Biosciences (NASDAQ:SLDB)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $16.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 160.59% from the stock’s current price.

A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. raised Solid Biosciences from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $10.00 to $15.00 in a research note on Monday, July 15th. Barclays cut their target price 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. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Solid Biosciences currently has a consensus rating of “Buy” and an average target price of $15.67.

Solid Biosciences Stock Performance

NASDAQ SLDB opened at $6.14 on Thursday. The business has a fifty day moving average price of $6.97 and a 200 day moving average price of $7.80. Solid Biosciences has a one year low of $2.00 and a one year high of $15.05. The company has a market cap of $237.00 million, a P/E ratio of -1.86 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.61) EPS 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 fiscal year.

Hedge Funds Weigh In On Solid Biosciences

A number of hedge funds have recently modified their holdings of SLDB. Dimensional Fund Advisors LP boosted its holdings in Solid Biosciences by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 70,827 shares of the company’s stock valued at $402,000 after acquiring an additional 5,287 shares during the period. American Century Companies Inc. increased its position in Solid Biosciences by 39.9% during the second quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock worth $196,000 after buying an additional 9,853 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Solid Biosciences in the second quarter valued at approximately $58,000. Ground Swell Capital LLC acquired a new position in shares of Solid Biosciences in the second quarter valued at approximately $76,000. Finally, Algert Global LLC acquired a new position in shares of Solid Biosciences in the second quarter valued at approximately $82,000. 81.46% of the stock is currently owned by hedge funds and other 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.