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

Solid Biosciences Inc. (NASDAQ:SLDB) has earned an average recommendation of “Buy” from the thirteen brokerages that are covering the stock, MarketBeat reports. Ten analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $14.90.

Several analysts recently commented on SLDB shares. Piper Sandler decreased their price target on Solid Biosciences from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Solid Biosciences in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Chardan Capital decreased their price target on Solid Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, May 19th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $15.00 price objective on shares of Solid Biosciences in a research report on Friday, June 6th.

Solid Biosciences Price Performance

Shares of SLDB stock opened at $4.79 on Friday. The stock’s fifty day simple moving average is $3.47 and its 200 day simple moving average is $3.92. The firm has a market cap of $371.27 million, a price-to-earnings ratio of -1.60 and a beta of 2.22. Solid Biosciences has a one year low of $2.41 and a one year high of $10.37.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.06). On average, research analysts anticipate that Solid Biosciences will post -2.84 earnings per share for the current year.

Hedge Funds Weigh In On Solid Biosciences

Several institutional investors have recently bought and sold shares of SLDB. Adage Capital Partners GP L.L.C. raised its position in shares of Solid Biosciences by 285.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 6,729,484 shares of the company’s stock worth $24,899,000 after acquiring an additional 4,981,400 shares during the last quarter. Bain Capital Life Sciences Investors LLC raised its position in shares of Solid Biosciences by 96.1% during the first quarter. Bain Capital Life Sciences Investors LLC now owns 7,911,669 shares of the company’s stock worth $29,273,000 after acquiring an additional 3,877,087 shares during the last quarter. Siren L.L.C. raised its position in shares of Solid Biosciences by 97.8% during the first quarter. Siren L.L.C. now owns 7,415,905 shares of the company’s stock worth $27,439,000 after acquiring an additional 3,666,864 shares during the last quarter. MPM Bioimpact LLC bought a new stake in shares of Solid Biosciences during the first quarter worth $6,077,000. Finally, Redmile Group LLC raised its position in shares of Solid Biosciences by 228.2% during the first quarter. Redmile Group LLC now owns 2,019,171 shares of the company’s stock worth $7,471,000 after acquiring an additional 1,403,925 shares during the last quarter. 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.