Solid Biosciences (NASDAQ:SLDB) Raised to Strong-Buy at Leerink Partnrs

Leerink Partnrs upgraded shares of Solid Biosciences (NASDAQ:SLDB) from a hold rating to a strong-buy rating in a research note released on Monday morning, Zacks.com reports. Leerink Partnrs also issued estimates for Solid Biosciences’ Q2 2024 earnings at ($0.55) EPS, Q3 2024 earnings at ($0.55) EPS, Q4 2024 earnings at ($0.55) EPS, FY2024 earnings at ($2.29) EPS and FY2025 earnings at ($2.38) EPS.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Solid Biosciences from $12.00 to $10.00 and set a neutral rating on the stock in a research report on Friday, May 31st. William Blair reissued an outperform rating on shares of Solid Biosciences in a research report on Thursday, March 28th. HC Wainwright reissued a buy rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Monday, May 20th. Citigroup initiated coverage on shares of Solid Biosciences in a research report on Friday, March 15th. They set a buy rating and a $16.00 price objective on the stock. Finally, Piper Sandler reissued an overweight rating and set a $20.00 price objective on shares of Solid Biosciences in a research report on Friday, June 21st. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $15.33.

Solid Biosciences Stock Performance

Shares of SLDB opened at $5.70 on Monday. 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 capitalization of $218.76 million, a P/E ratio of -1.45 and a beta of 1.87. The firm’s fifty day simple moving average is $8.41 and its two-hundred day simple moving average is $8.77. Solid Biosciences has a 12 month low of $1.81 and a 12 month high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). As a group, analysts predict that Solid Biosciences will post -2.64 EPS for the current year.

Hedge Funds Weigh In On Solid Biosciences

Several large investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. lifted its position in Solid Biosciences by 26.4% in 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 in the last quarter. Bain Capital Life Sciences Investors LLC lifted its position in Solid Biosciences by 28.9% in 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 acquiring an additional 904,160 shares in the last quarter. Artal Group S.A. increased its stake in Solid Biosciences by 175.0% in the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock valued at $33,300,000 after buying an additional 1,590,781 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in Solid Biosciences in the 1st quarter valued at about $23,935,000. Finally, Vanguard Group Inc. increased its stake in Solid Biosciences by 283.9% in the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after buying an additional 920,404 shares during the last quarter. 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.