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

Solid Biosciences Inc. (NASDAQ:SLDB) has earned a consensus rating of “Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $18.25.

Several analysts have issued reports on the company. Barclays upped their target price on Solid Biosciences from $8.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, March 18th. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a report on Thursday, March 14th. Piper Sandler upgraded shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $8.00 to $20.00 in a research report on Thursday, March 14th. William Blair reiterated an “outperform” rating on shares of Solid Biosciences in a report on Thursday, March 28th. Finally, Citigroup began coverage on shares of Solid Biosciences in a report on Friday, March 15th. They set a “buy” rating and a $16.00 price target for the company.

Institutional Investors Weigh In On Solid Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Solid Biosciences by 28.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,339,156 shares of the company’s stock valued at $1,558,000 after acquiring an additional 748,123 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Solid Biosciences by 5,663.8% in the second quarter. Millennium Management LLC now owns 689,001 shares of the company’s stock valued at $424,000 after purchasing an additional 677,047 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Solid Biosciences by 108.7% in the first quarter. Renaissance Technologies LLC now owns 1,268,575 shares of the company’s stock valued at $1,522,000 after purchasing an additional 660,747 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in Solid Biosciences by 29.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,319,245 shares of the company’s stock worth $1,583,000 after buying an additional 300,000 shares during the period. Finally, XTX Topco Ltd lifted its holdings in Solid Biosciences by 582.0% during the 1st quarter. XTX Topco Ltd now owns 197,756 shares of the company’s stock worth $237,000 after buying an additional 168,759 shares in the last quarter. 81.46% of the stock is owned by hedge funds and other institutional investors.

Solid Biosciences Stock Down 6.0 %

SLDB stock opened at $8.70 on Monday. The company has a current ratio of 8.94, a quick ratio of 8.94 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $11.07 and a two-hundred day moving average of $6.87. Solid Biosciences has a 12 month low of $1.81 and a 12 month high of $15.05. The company has a market cap of $329.12 million, a price-to-earnings ratio of -1.80 and a beta of 1.93.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Wednesday, March 13th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.01. As a group, analysts forecast that Solid Biosciences will post -2.64 earnings per share for the current fiscal year.

Solid Biosciences Company Profile

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.