Solid Biosciences (NASDAQ:SLDB) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a report released on Thursday,Benzinga reports. They currently have a $16.00 price objective on the stock.

Several other analysts have also issued reports on SLDB. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. raised shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $10.00 to $15.00 in a research report on Monday, July 15th. Finally, Barclays dropped their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Solid Biosciences currently has an average rating of “Buy” and an average price target of $15.67.

Solid Biosciences Stock Performance

Shares of SLDB stock traded up $0.10 during trading on Thursday, reaching $5.87. The company’s stock had a trading volume of 150,257 shares, compared to its average volume of 343,789. The business has a fifty day moving average price of $6.91 and a 200-day moving average price of $7.78. Solid Biosciences has a one year low of $2.00 and a one year high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). Equities research analysts expect that Solid Biosciences will post -2.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Solid Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new position in shares of Solid Biosciences in the second quarter valued at about $58,000. Ground Swell Capital LLC acquired a new position in shares of Solid Biosciences in the second quarter valued at about $76,000. Algert Global LLC acquired a new position in shares of Solid Biosciences in the second quarter valued at about $82,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Solid Biosciences in the second quarter valued at about $92,000. Finally, Rhumbline Advisers acquired a new position in shares of Solid Biosciences in the second quarter valued at about $191,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

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.