Solid Biosciences’ (SLDB) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler restated their overweight rating on shares of Solid Biosciences (NASDAQ:SLDB) in a report published on Friday morning, Benzinga reports. Piper Sandler currently has a $20.00 price target on the stock.

Several other equities research analysts also recently commented on SLDB. Barclays cut their price objective on Solid Biosciences from $21.00 to $18.00 and set an overweight rating for the company in a report on Thursday, May 16th. William Blair reissued an outperform rating on shares of Solid Biosciences in a report on Thursday, March 28th. JPMorgan Chase & Co. cut their price objective on Solid Biosciences from $12.00 to $10.00 and set a neutral rating for the company in a report on Friday, May 31st. Citigroup assumed coverage on Solid Biosciences in a report on Friday, March 15th. They issued a buy rating and a $16.00 price objective for the company. Finally, HC Wainwright reissued a buy rating and issued a $16.00 price objective on shares of Solid Biosciences in a report on Monday, May 20th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Solid Biosciences currently has a consensus rating of Moderate Buy and a consensus price target of $16.00.

Solid Biosciences Price Performance

Shares of SLDB opened at $6.46 on Friday. The stock has a market capitalization of $247.93 million, a P/E ratio of -1.64 and a beta of 1.87. Solid Biosciences has a twelve month low of $1.81 and a twelve month high of $15.05. The company has a 50 day moving average of $8.65 and a 200-day moving average of $8.71. The company has a quick ratio of 14.94, a current ratio of 14.94 and a debt-to-equity ratio of 0.01.

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

Institutional Investors Weigh In On Solid Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Vestal Point Capital LP acquired a new stake in Solid Biosciences during the 4th quarter valued at $209,000. Vanguard Group Inc. lifted its holdings in shares of Solid Biosciences by 283.9% during the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after buying an additional 920,404 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Solid Biosciences during the first quarter worth $23,935,000. Artal Group S.A. lifted its holdings in shares of Solid Biosciences by 175.0% during the first quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock worth $33,300,000 after buying an additional 1,590,781 shares in the last quarter. Finally, Bain Capital Life Sciences Investors LLC lifted its holdings in shares of Solid Biosciences by 28.9% during the first quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock worth $53,741,000 after buying an additional 904,160 shares in the last quarter. Institutional investors and hedge funds 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.