Solid Biosciences’ (SLDB) Buy Rating Reaffirmed at Chardan Capital

Chardan Capital restated their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a report published on Thursday morning,Benzinga reports. They currently have a $15.00 price target on the stock.

Several other brokerages also recently weighed in on SLDB. Piper Sandler lowered their target price on Solid Biosciences from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Citigroup started coverage on shares of Solid Biosciences in a research report on Thursday, June 26th. They issued a “buy” rating and a $14.00 target price for the company. JPMorgan Chase & Co. dropped their price target on shares of Solid Biosciences from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Solid Biosciences in a report on Tuesday, June 17th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $15.00 price target on shares of Solid Biosciences in a research report on Friday, June 6th. Ten investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Solid Biosciences currently has a consensus rating of “Buy” and an average target price of $15.00.

Solid Biosciences Stock Performance

Shares of SLDB opened at $6.17 on Thursday. The stock has a fifty day moving average of $5.59 and a two-hundred day moving average of $4.41. Solid Biosciences has a fifty-two week low of $2.41 and a fifty-two week high of $10.37. The company has a market capitalization of $480.46 million, a PE ratio of -2.20 and a beta of 2.44.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.09. As a group, equities research analysts forecast that Solid Biosciences will post -2.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Solid Biosciences

A number of hedge funds have recently added to or reduced their stakes in SLDB. CWM LLC increased its position in Solid Biosciences by 15,188.5% during the first quarter. CWM LLC now owns 7,950 shares of the company’s stock worth $29,000 after acquiring an additional 7,898 shares during the period. Legal & General Group Plc increased its holdings in Solid Biosciences by 208.6% during the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after purchasing an additional 4,063 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in Solid Biosciences by 205.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after acquiring an additional 4,534 shares during the last quarter. Corton Capital Inc. acquired a new position in Solid Biosciences during the 4th quarter worth $41,000. Finally, Ground Swell Capital LLC bought a new stake in Solid Biosciences during the 1st quarter worth about $42,000. Institutional investors and hedge funds 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.