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

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been given a consensus recommendation of “Buy” by the eight brokerages that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $15.67.

Several brokerages have issued reports on SLDB. HC Wainwright reiterated a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a report on Thursday. Barclays cut their price target on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. JPMorgan Chase & Co. upgraded Solid Biosciences from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $10.00 to $15.00 in a report on Monday, July 15th. Finally, William Blair upgraded Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th.

Solid Biosciences Price Performance

NASDAQ SLDB opened at $5.77 on Friday. The business has a 50 day simple moving average of $6.91 and a 200 day simple moving average of $7.78. Solid Biosciences has a one year low of $2.00 and a one year high of $15.05. The stock has a market capitalization of $222.72 million, a P/E ratio of -1.75 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last released its 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). Equities analysts expect that Solid Biosciences will post -2.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Solid Biosciences by 283.9% in 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 during the last quarter. Janus Henderson Group PLC purchased a new position in shares of Solid Biosciences in the first quarter valued at $23,935,000. Acadian Asset Management LLC purchased a new position in shares of Solid Biosciences in the second quarter valued at $379,000. Cubist Systematic Strategies LLC purchased a new position in shares of Solid Biosciences in the second quarter valued at $412,000. Finally, Millennium Management LLC grew its position in shares of Solid Biosciences by 135.7% in the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock valued at $9,798,000 after purchasing an additional 994,984 shares in the last quarter. Institutional investors own 81.46% of the company’s stock.

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.