HC Wainwright Reiterates Buy Rating for Solid Biosciences (NASDAQ:SLDB)

Solid Biosciences (NASDAQ:SLDB)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $16.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 225.87% from the company’s previous close.

A number of other research firms have also recently commented on SLDB. JPMorgan Chase & Co. dropped their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Barclays cut their price objective on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. William Blair upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. Chardan Capital reiterated a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a report on Monday, November 11th. Finally, JMP Securities began coverage on Solid Biosciences in a report on Tuesday. They set an “outperform” rating and a $15.00 price objective on the stock. Nine equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $15.22.

Solid Biosciences Price Performance

Shares of NASDAQ SLDB opened at $4.91 on Thursday. The firm’s 50-day moving average is $5.69 and its two-hundred day moving average is $7.07. The company has a market capitalization of $196.20 million, a PE ratio of -1.62 and a beta of 2.01. Solid Biosciences has a 12-month low of $4.33 and a 12-month high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last posted its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). On average, analysts forecast that Solid Biosciences will post -2.85 EPS for the current fiscal year.

Insider Transactions at Solid Biosciences

In other Solid Biosciences news, COO David T. Howton sold 5,072 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $28,403.20. Following the transaction, the chief operating officer now directly owns 15,663 shares of the company’s stock, valued at $87,712.80. This trade represents a 24.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessie Hanrahan sold 4,610 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total value of $25,816.00. Following the completion of the sale, the insider now owns 14,235 shares of the company’s stock, valued at approximately $79,716. This trade represents a 24.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,719 shares of company stock worth $135,457 in the last three months. 13.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Solid Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd purchased a new stake in shares of Solid Biosciences during the second quarter valued at approximately $58,000. The Manufacturers Life Insurance Company acquired a new stake in Solid Biosciences during the 3rd quarter valued at $71,000. Ground Swell Capital LLC acquired a new position in Solid Biosciences in the 2nd quarter worth $76,000. Algert Global LLC purchased a new position in Solid Biosciences in the 2nd quarter valued at about $82,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Solid Biosciences during the second quarter valued at about $92,000. Hedge funds and other institutional investors own 81.46% of the company’s stock.

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.