Solid Biosciences (NASDAQ:SLDB) Receives “Buy” Rating from Chardan Capital

Chardan Capital restated their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a research note published on Tuesday,Benzinga reports. The firm currently has a $15.00 price target on the stock.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a research report on Wednesday, October 8th. Barclays set a $9.00 price objective on shares of Solid Biosciences and gave the stock an “overweight” rating in a research report on Tuesday. Wedbush reduced their price objective on shares of Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, August 13th. Wall Street Zen cut shares of Solid Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Solid Biosciences from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.90.

Solid Biosciences Stock Performance

NASDAQ:SLDB opened at $4.41 on Tuesday. The company has a fifty day moving average of $5.65 and a two-hundred day moving average of $5.05. The stock has a market capitalization of $343.41 million, a PE ratio of -1.77 and a beta of 2.75. Solid Biosciences has a fifty-two week low of $2.41 and a fifty-two week high of $7.37.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.06). Research analysts forecast that Solid Biosciences will post -2.84 earnings per share for the current year.

Institutional Investors Weigh In On Solid Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of 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 purchasing an additional 7,898 shares during the last quarter. Legal & General Group Plc increased its position in Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after purchasing an additional 4,063 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Solid Biosciences by 205.5% during the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after purchasing an additional 4,534 shares during the last quarter. Ground Swell Capital LLC acquired a new stake in Solid Biosciences during the first quarter worth about $42,000. Finally, Pallas Capital Advisors LLC acquired a new stake in Solid Biosciences during the second quarter worth about $54,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

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.