Solid Biosciences’ (SLDB) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reissued their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a research note released on Monday morning,Benzinga reports. The firm currently has a $15.00 target price on the stock.

Several other research analysts have also commented on SLDB. HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a report on Thursday, November 7th. JPMorgan Chase & Co. raised Solid Biosciences from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $10.00 to $15.00 in a report on Monday, July 15th. William Blair raised Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Finally, Barclays cut their price objective on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $15.14.

Solid Biosciences Stock Up 0.9 %

Shares of SLDB opened at $5.56 on Monday. The business’s 50-day moving average price is $6.67 and its 200-day moving average price is $7.69. Solid Biosciences has a twelve month low of $2.10 and a twelve month high of $15.05. The stock has a market cap of $222.15 million, a PE ratio of -1.83 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.12). Analysts expect that Solid Biosciences will post -2.75 earnings per share for the current fiscal year.

Institutional Trading of Solid Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. boosted its stake in Solid Biosciences by 26.4% in the first 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 in the last quarter. Bain Capital Life Sciences Investors LLC boosted its stake in Solid Biosciences by 28.9% in the first quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock worth $53,741,000 after buying an additional 904,160 shares in the last quarter. Artal Group S.A. boosted its stake in Solid Biosciences by 175.0% in the first 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 in the last quarter. Janus Henderson Group PLC purchased a new stake in Solid Biosciences in the first quarter worth approximately $23,935,000. Finally, Millennium Management LLC boosted its stake in Solid Biosciences by 135.7% in the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock worth $9,798,000 after buying an additional 994,984 shares in the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

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.