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

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have earned an average recommendation of “Buy” from the nine analysts that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $15.14.

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Chardan Capital restated a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a report on Monday, November 11th. Barclays decreased their price target on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Finally, HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a report on Thursday, November 7th.

Solid Biosciences Stock Up 1.6 %

Shares of NASDAQ SLDB opened at $5.79 on Tuesday. Solid Biosciences has a 12-month low of $2.70 and a 12-month high of $15.05. The firm has a market cap of $231.37 million, a PE ratio of -1.90 and a beta of 1.92. The company’s fifty day simple moving average is $6.05 and its 200 day simple moving average is $7.27.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SLDB. Dimensional Fund Advisors LP grew its stake in Solid Biosciences by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 70,827 shares of the company’s stock valued at $402,000 after acquiring an additional 5,287 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Solid Biosciences by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock valued at $95,000 after purchasing an additional 7,719 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Solid Biosciences by 39.9% in the second quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock worth $196,000 after purchasing an additional 9,853 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Solid Biosciences in the third quarter worth $71,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Solid Biosciences in the second quarter worth $58,000. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

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.