Analysts Set Solid Biosciences Inc. (NASDAQ:SLDB) PT at $16.00

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $16.00.

Several equities research analysts recently issued reports on SLDB shares. Barclays decreased their price target on Solid Biosciences from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. William Blair reiterated an “outperform” rating on shares of Solid Biosciences in a research note on Thursday, March 28th. Piper Sandler started coverage on shares of Solid Biosciences in a report on Friday, May 31st. They issued an “overweight” rating and a $20.00 target price for the company. 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 for the company. Finally, HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research report on Monday, May 20th.

Solid Biosciences Stock Down 5.4 %

Solid Biosciences stock opened at $7.47 on Tuesday. The company has a current ratio of 14.94, a quick ratio of 14.94 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average price is $8.99 and its two-hundred day moving average price is $8.69. The firm has a market capitalization of $286.70 million, a price-to-earnings ratio of -1.90 and a beta of 1.87. Solid Biosciences has a 1-year low of $1.81 and a 1-year high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.07). On average, equities research analysts predict that Solid Biosciences will post -2.65 earnings per share for the current fiscal year.

Institutional Trading of Solid Biosciences

A number of large investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. grew its position 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 acquiring an additional 904,160 shares during the period. Artal Group S.A. lifted its stake in Solid Biosciences by 175.0% in the first quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock valued at $33,300,000 after purchasing an additional 1,590,781 shares during the last quarter. Janus Henderson Group PLC purchased a new position in Solid Biosciences in the first quarter valued at approximately $23,935,000. Bain Capital Life Sciences Investors LLC grew its holdings 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 valued at $53,741,000 after purchasing an additional 904,160 shares during the period. Finally, Vanguard Group Inc. increased its position in Solid Biosciences by 283.9% in the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after buying an additional 920,404 shares during the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

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.