Solid Biosciences Inc. (NASDAQ:SLDB) Receives Consensus Recommendation of “Buy” from Brokerages

Solid Biosciences Inc. (NASDAQ:SLDBGet Rating) has earned a consensus recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $5.65.

Several research firms have issued reports on SLDB. Piper Sandler lowered their target price on shares of Solid Biosciences from $6.00 to $5.00 in a research note on Wednesday. Chardan Capital dropped their price target on Solid Biosciences from $17.00 to $7.00 in a research report on Thursday. SVB Leerink reissued an “outperform” rating on shares of Solid Biosciences in a research note on Wednesday. Finally, Zacks Investment Research upgraded shares of Solid Biosciences from a “hold” rating to a “buy” rating and set a $1.25 price objective on the stock in a research report on Friday, March 18th.

Shares of NASDAQ SLDB opened at $0.59 on Friday. The stock has a fifty day simple moving average of $1.01 and a two-hundred day simple moving average of $1.49. Solid Biosciences has a 1-year low of $0.59 and a 1-year high of $5.29. The firm has a market cap of $66.33 million, a price-to-earnings ratio of -0.85 and a beta of 1.23.

Solid Biosciences (NASDAQ:SLDBGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). Solid Biosciences had a negative return on equity of 31.30% and a negative net margin of 530.02%. During the same period in the previous year, the firm posted ($0.19) EPS. On average, equities research analysts anticipate that Solid Biosciences will post -0.72 earnings per share for the current fiscal year.

In other news, COO Joel Solomon Zev Schneider sold 30,504 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $1.10, for a total value of $33,554.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 53,632 shares of company stock worth $59,004 over the last quarter. Company insiders own 24.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Solid Biosciences by 38.6% during the 4th quarter. BlackRock Inc. now owns 6,253,209 shares of the company’s stock valued at $10,942,000 after buying an additional 1,741,514 shares during the period. Artal Group S.A. lifted its holdings in Solid Biosciences by 33.3% in the third quarter. Artal Group S.A. now owns 3,000,000 shares of the company’s stock worth $7,170,000 after buying an additional 750,000 shares during the period. Millennium Management LLC boosted its position in Solid Biosciences by 3,107.0% during the 4th quarter. Millennium Management LLC now owns 559,466 shares of the company’s stock valued at $979,000 after acquiring an additional 542,021 shares in the last quarter. Suvretta Capital Management LLC grew its holdings in shares of Solid Biosciences by 5.2% during the 4th quarter. Suvretta Capital Management LLC now owns 6,287,193 shares of the company’s stock worth $11,003,000 after acquiring an additional 313,000 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Solid Biosciences by 478.5% in the 3rd quarter. Goldman Sachs Group Inc. now owns 320,445 shares of the company’s stock worth $766,000 after acquiring an additional 265,056 shares in the last quarter. 69.76% of the stock is owned by institutional investors.

Solid Biosciences Company Profile (Get Rating)

Solid Biosciences Inc engages in developing therapies for duchenne muscular dystrophy in the United States. The company's lead product candidate is SGT-001, a gene transfer candidate, which is in a Phase I/II clinical trial to drive functional dystrophin protein expression in patients' muscles; and SGT-003, a ext-generation gene transfer candidate for the treatment of duchenne muscular dystrophy.

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