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

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been assigned an average recommendation of “Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $16.17.

A number of analysts recently commented on SLDB shares. Leerink Partnrs raised Solid Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 24th. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research note on Monday, May 20th. SVB Leerink upgraded Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research report on Monday, June 24th. Piper Sandler reiterated an “overweight” rating and set a $20.00 target price on shares of Solid Biosciences in a research report on Friday, June 21st. Finally, JPMorgan Chase & Co. upgraded Solid Biosciences from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $10.00 to $15.00 in a research report on Monday, July 15th.

Solid Biosciences Stock Up 3.1 %

Solid Biosciences stock opened at $7.99 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.94 and a current ratio of 14.94. The firm has a market capitalization of $306.66 million, a price-to-earnings ratio of -2.03 and a beta of 1.84. Solid Biosciences has a fifty-two week low of $1.81 and a fifty-two week high of $15.05. The stock’s fifty day moving average is $7.62 and its two-hundred day moving average is $9.12.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). Analysts predict that Solid Biosciences will post -2.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Solid Biosciences

A number of large investors have recently modified their holdings of SLDB. Janus Henderson Group PLC purchased a new position in shares of Solid Biosciences in the 1st quarter worth about $23,935,000. Artal Group S.A. raised its holdings in shares of Solid Biosciences by 175.0% in the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock worth $33,300,000 after purchasing an additional 1,590,781 shares during the period. Vanguard Group Inc. raised its holdings in shares of Solid Biosciences by 283.9% in the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after purchasing an additional 920,404 shares during the period. RA Capital Management L.P. raised its holdings in shares of Solid Biosciences by 26.4% during the 1st 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. Finally, Bain Capital Life Sciences Investors LLC raised its holdings in shares of Solid Biosciences by 28.9% during the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock valued at $53,741,000 after buying an additional 904,160 shares during the period. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

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.