Solid Biosciences Inc. (NASDAQ:SLDB) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been given an average recommendation of “Buy” by the nine research firms that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a buy rating and two have issued a strong 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 $15.14.

Several equities analysts recently commented on the stock. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Monday. Barclays cut 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. William Blair raised Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. cut their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a report on Thursday, November 7th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SLDB. Point72 DIFC Ltd acquired a new stake in Solid Biosciences during the 2nd quarter valued at $58,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Solid Biosciences during the third quarter valued at about $71,000. Ground Swell Capital LLC purchased a new stake in shares of Solid Biosciences during the second quarter worth about $76,000. Algert Global LLC acquired a new position in shares of Solid Biosciences in the second quarter worth about $82,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Solid Biosciences in the second quarter valued at about $92,000. 81.46% of the stock is owned by institutional investors and hedge funds.

Solid Biosciences Stock Down 4.5 %

Shares of NASDAQ:SLDB opened at $5.31 on Friday. The company has a market cap of $212.16 million, a P/E ratio of -1.75 and a beta of 1.92. The business has a fifty day simple moving average of $6.67 and a 200-day simple moving average of $7.69. Solid Biosciences has a 52 week low of $2.21 and a 52 week high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.12). Sell-side analysts expect that Solid Biosciences will post -2.75 earnings per share for the current fiscal year.

About Solid Biosciences

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.