Brokerages Set Solid Biosciences Inc. (NASDAQ:SLDB) PT at $15.80

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been assigned a consensus recommendation of “Buy” from the twelve research firms that are covering the company, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation and four have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $15.67.

Several equities research analysts recently weighed in on SLDB shares. Truist Financial started coverage on shares of Solid Biosciences in a research note on Wednesday, January 8th. They set a “buy” rating and a $16.00 target price on the stock. Chardan Capital reiterated a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research note on Friday, March 7th. JPMorgan Chase & Co. decreased their target price on Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. JMP Securities assumed coverage on Solid Biosciences in a report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price target on the stock. Finally, Wedbush started coverage on Solid Biosciences in a research note on Friday, December 13th. They issued an “outperform” rating and a $16.00 price objective for the company.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new stake in Solid Biosciences in the third quarter valued at $293,000. Valence8 US LP purchased a new stake in shares of Solid Biosciences in the 3rd quarter valued at about $110,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Solid Biosciences in the 3rd quarter valued at about $71,000. FMR LLC purchased a new position in Solid Biosciences during the 3rd quarter worth approximately $305,000. Finally, MetLife Investment Management LLC increased its position in Solid Biosciences by 129.1% during the third quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after buying an additional 7,719 shares during the period. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Price Performance

Shares of NASDAQ:SLDB opened at $4.82 on Thursday. The firm has a market capitalization of $373.52 million, a PE ratio of -1.59 and a beta of 1.97. Solid Biosciences has a 1 year low of $2.88 and a 1 year high of $15.05. The firm’s 50-day moving average is $4.24 and its two-hundred day moving average is $5.33.

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.