Solid Biosciences (NASDAQ:SLDB – Get Free Report) was upgraded by analysts at SVB Leerink from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday, MarketBeat reports. The brokerage currently has a $12.00 price objective on the stock. SVB Leerink’s price objective would suggest a potential upside of 85.76% from the stock’s current price.
Several other analysts have also issued reports on SLDB. William Blair reaffirmed an “outperform” rating on shares of Solid Biosciences in a research note on Thursday, March 28th. Citigroup started coverage on Solid Biosciences in a research note on Friday, March 15th. They set a “buy” rating and a $16.00 price objective for the company. Barclays dropped their price objective on Solid Biosciences from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, May 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 price target on shares of Solid Biosciences in a research note on Friday. Finally, JPMorgan Chase & Co. dropped their price target on Solid Biosciences from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.33.
Check Out Our Latest Stock Report on Solid Biosciences
Solid Biosciences Price Performance
Solid Biosciences (NASDAQ:SLDB – Get Free Report) last announced 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). Research analysts predict that Solid Biosciences will post -2.65 earnings per share for the current year.
Hedge Funds Weigh In On Solid Biosciences
A number of institutional investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. increased its holdings in shares of Solid Biosciences by 26.4% during the first 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 increased 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 valued at $53,741,000 after acquiring an additional 904,160 shares in the last quarter. Artal Group S.A. increased 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 valued at $33,300,000 after acquiring an additional 1,590,781 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Solid Biosciences during the first quarter valued at $23,935,000. Finally, Vanguard Group Inc. increased 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 valued at $16,578,000 after acquiring an additional 920,404 shares in the last quarter. 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.
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