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

Shares of Solid Biosciences Inc. (NASDAQ:SLDBGet Free Report) have been assigned a consensus rating of “Buy” from the nine analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $15.33.

Several research firms have issued reports on SLDB. Barclays dropped their price objective on Solid Biosciences from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. William Blair reaffirmed an “outperform” rating on shares of Solid Biosciences in a report on Thursday, March 28th. Citigroup began coverage on shares of Solid Biosciences in a report on Friday, March 15th. They issued a “buy” rating and a $16.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on shares of Solid Biosciences from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Finally, SVB Leerink raised shares of Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a report on Monday, June 24th.

Check Out Our Latest Report on SLDB

Solid Biosciences Price Performance

Shares of SLDB opened at $5.87 on Friday. The company has a current ratio of 14.94, a quick ratio of 14.94 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $7.99 and its 200 day simple moving average is $8.81. Solid Biosciences has a 1-year low of $1.81 and a 1-year high of $15.05. The company has a market cap of $225.28 million, a price-to-earnings ratio of -1.49 and a beta of 1.85.

Solid Biosciences (NASDAQ:SLDBGet Free Report) last issued its earnings results on Wednesday, May 15th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). On average, research analysts forecast that Solid Biosciences will post -2.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC acquired a new position in Solid Biosciences in the first quarter valued at about $23,935,000. Artal Group S.A. increased its holdings in Solid Biosciences by 175.0% in the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock valued at $33,300,000 after buying an additional 1,590,781 shares during the period. Vanguard Group Inc. raised its position 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 buying an additional 920,404 shares in the last quarter. RA Capital Management L.P. lifted its holdings in shares of Solid Biosciences by 26.4% during the 1st quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock worth $57,682,000 after acquiring an additional 904,160 shares during the period. Finally, Bain Capital Life Sciences Investors LLC boosted its position in shares of Solid Biosciences by 28.9% during the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock worth $53,741,000 after acquiring an additional 904,160 shares in the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

About Solid Biosciences

(Get Free Report

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.

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Analyst Recommendations for Solid Biosciences (NASDAQ:SLDB)

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