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

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been given a consensus recommendation of “Buy” by the six analysts that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $17.50.

A number of equities analysts recently commented on the stock. Barclays decreased their target price on shares of Solid Biosciences from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. HC Wainwright restated a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research report on Monday. William Blair restated an “outperform” rating on shares of Solid Biosciences in a research report on Thursday, March 28th. Citigroup initiated coverage on shares of Solid Biosciences in a research report on Friday, March 15th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, Piper Sandler upgraded shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $8.00 to $20.00 in a research report on Thursday, March 14th.

Hedge Funds Weigh In On Solid Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. RA Capital Management L.P. increased its position in shares of Solid Biosciences by 26.4% during the first quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock valued at $57,682,000 after buying an additional 904,160 shares during the period. Artal Group S.A. boosted its stake in Solid Biosciences by 175.0% during the first quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock worth $33,300,000 after acquiring an additional 1,590,781 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Solid Biosciences during the first quarter worth about $23,935,000. Bain Capital Life Sciences Investors LLC boosted its stake in Solid Biosciences by 28.9% during the first 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. Finally, Vanguard Group Inc. boosted its stake in Solid Biosciences by 283.9% during the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after acquiring an additional 920,404 shares in the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Solid Biosciences Price Performance

Shares of NASDAQ:SLDB opened at $8.51 on Friday. The stock has a market cap of $326.61 million, a PE ratio of -2.16 and a beta of 2.02. The company’s fifty day moving average is $10.93 and its 200 day moving average is $7.99. Solid Biosciences has a 52 week low of $1.81 and a 52 week high of $15.05. The company has a quick ratio of 14.94, a current ratio of 14.94 and a debt-to-equity ratio of 0.01.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Wednesday, March 13th. The company reported ($1.00) EPS for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.01. Research analysts anticipate that Solid Biosciences will post -2.68 earnings per share for the current year.

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.