Solid Biosciences (NASDAQ:SLDB) Stock Rating Upgraded by Leerink Partnrs

Solid Biosciences (NASDAQ:SLDB) was upgraded by analysts at Leerink Partnrs from a “hold” rating to a “strong-buy” rating in a report issued on Monday, Zacks.com reports.

SLDB has been the subject of several other research reports. Piper Sandler reiterated an “overweight” rating and set a $20.00 target price on shares of Solid Biosciences in a research note on Friday, June 21st. Barclays lowered their price target on shares of Solid Biosciences from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. William Blair restated an “outperform” rating on shares of Solid Biosciences in a research report on Thursday, March 28th. Citigroup began coverage on shares of Solid Biosciences in a research report on Friday, March 15th. They set a “buy” rating and a $16.00 price target for the company. Finally, SVB Leerink upgraded shares of Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research report on Monday. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $15.33.

Solid Biosciences Trading Down 12.4 %

NASDAQ SLDB opened at $5.80 on Monday. The company’s fifty day simple moving average is $8.50 and its 200-day simple moving average is $8.79. Solid Biosciences has a 52 week low of $1.81 and a 52 week high of $15.05. 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 stock has a market cap of $222.60 million, a P/E ratio of -1.47 and a beta of 1.87.

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

Institutional Investors Weigh In On Solid Biosciences

A number of large investors have recently added to or reduced their stakes in SLDB. Vestal Point Capital LP bought a new stake in shares of Solid Biosciences in the fourth quarter valued at approximately $209,000. Bain Capital Life Sciences Investors LLC boosted its position in shares of Solid Biosciences by 28.9% in 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 acquiring an additional 904,160 shares during the period. RA Capital Management L.P. boosted its position in shares of Solid Biosciences by 26.4% in 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 acquiring an additional 904,160 shares during the period. Vanguard Group Inc. lifted 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 purchasing an additional 920,404 shares during the period. Finally, Artal Group S.A. lifted its position 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 worth $33,300,000 after purchasing an additional 1,590,781 shares during the period. 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.