Solid Biosciences’ (SLDB) “Buy” Rating Reaffirmed at HC Wainwright

Solid Biosciences (NASDAQ:SLDB)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report released on Thursday, Benzinga reports. They currently have a $16.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 160.59% from the company’s current price.

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

Solid Biosciences Price Performance

SLDB stock opened at $6.14 on Thursday. The company has a market capitalization of $237.00 million, a P/E ratio of -1.86 and a beta of 1.92. The business has a 50-day moving average price of $6.97 and a 200 day moving average price of $7.80. Solid Biosciences has a 1-year low of $2.00 and a 1-year high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Tuesday, August 13th. The company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.05. On average, analysts anticipate that Solid Biosciences will post -2.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Solid Biosciences

Several hedge funds have recently bought and sold shares of SLDB. RA Capital Management L.P. lifted 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 buying an additional 904,160 shares in the last quarter. Bain Capital Life Sciences Investors LLC lifted its position 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 in the last quarter. Artal Group S.A. lifted its position in shares of Solid Biosciences by 175.0% during 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 in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Solid Biosciences during the 1st quarter valued at approximately $23,935,000. Finally, Millennium Management LLC lifted its position in shares of Solid Biosciences by 135.7% during the 2nd quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock valued at $9,798,000 after buying an additional 994,984 shares in 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.