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

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been given a consensus rating of “Buy” by the nine analysts that are covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $15.14.

SLDB has been the topic of several research reports. HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research report on Thursday, November 7th. Barclays reduced their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lowered their price objective on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Finally, Chardan Capital reiterated a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Monday.

Solid Biosciences Stock Performance

SLDB opened at $5.31 on Friday. The company has a market capitalization of $212.16 million, a P/E ratio of -1.75 and a beta of 1.92. The company has a 50-day moving average of $6.67 and a 200-day moving average of $7.69. Solid Biosciences has a 1-year low of $2.21 and a 1-year high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data 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). As a group, sell-side analysts expect that Solid Biosciences will post -2.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Solid Biosciences

A number of hedge funds have recently made changes to their positions in SLDB. RA Capital Management L.P. increased its position in Solid Biosciences by 26.4% in the 1st quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock valued at $57,682,000 after acquiring an additional 904,160 shares during the period. Bain Capital Life Sciences Investors LLC increased its holdings in shares of Solid Biosciences by 28.9% during the first quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock valued at $53,741,000 after purchasing an additional 904,160 shares during the period. Vestal Point Capital LP raised its stake in shares of Solid Biosciences by 5.1% during the third quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company’s stock valued at $19,516,000 after purchasing an additional 135,000 shares in the last quarter. Artal Group S.A. raised its stake in shares of Solid Biosciences by 175.0% during the first quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock valued at $33,300,000 after purchasing an additional 1,590,781 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new position in Solid Biosciences in the 1st quarter valued at about $23,935,000. Institutional investors own 81.46% of the company’s stock.

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.