Solid Biosciences (SLDB) Given a $6.00 Price Target by Citigroup Analysts

Solid Biosciences (NASDAQ:SLDB) has been assigned a $6.00 price objective by stock analysts at Citigroup in a research report issued on Thursday, TipRanks reports. The firm presently has a “hold” rating on the stock. Citigroup‘s price target suggests a potential downside of 0.66% from the company’s previous close.

SLDB has been the topic of several other research reports. Leerink Swann cut Solid Biosciences from an “outperform” rating to a “market perform” rating in a report on Thursday, February 7th. ValuEngine upgraded Solid Biosciences from a “hold” rating to a “buy” rating in a report on Tuesday, March 19th. Zacks Investment Research cut Solid Biosciences from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Svb Leerink cut Solid Biosciences from an “outperform” rating to a “market perform” rating in a report on Friday, February 8th. Finally, Chardan Capital reiterated a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a report on Thursday, February 7th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Solid Biosciences has a consensus rating of “Hold” and an average target price of $19.82.

Shares of NASDAQ:SLDB traded down $0.14 during trading on Thursday, hitting $6.04. 330,214 shares of the company’s stock traded hands, compared to its average volume of 871,348. Solid Biosciences has a 52 week low of $5.23 and a 52 week high of $54.84. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.99 and a quick ratio of 10.31. The stock has a market capitalization of $209.25 million, a PE ratio of -2.68 and a beta of 1.68.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.85) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.22). On average, research analysts expect that Solid Biosciences will post -2.53 earnings per share for the current year.

In other Solid Biosciences news, major shareholder Boxer Capital, Llc sold 450,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $9.88, for a total value of $4,446,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Juan Andrey Zarur sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $10.00, for a total value of $80,000.00. The disclosure for this sale can be found here. Insiders own 31.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLDB. Partner Fund Management L.P. lifted its position in shares of Solid Biosciences by 66.9% during the 4th quarter. Partner Fund Management L.P. now owns 1,335,080 shares of the company’s stock valued at $35,780,000 after acquiring an additional 535,303 shares during the period. BlackRock Inc. increased its holdings in shares of Solid Biosciences by 56.0% in the fourth quarter. BlackRock Inc. now owns 1,214,410 shares of the company’s stock valued at $32,546,000 after purchasing an additional 436,161 shares during the period. Jennison Associates LLC acquired a new position in shares of Solid Biosciences in the fourth quarter valued at about $21,109,000. Vanguard Group Inc increased its holdings in shares of Solid Biosciences by 82.0% in the third quarter. Vanguard Group Inc now owns 675,180 shares of the company’s stock valued at $31,855,000 after purchasing an additional 304,286 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Solid Biosciences by 82.0% in the third quarter. Vanguard Group Inc. now owns 675,180 shares of the company’s stock valued at $31,855,000 after purchasing an additional 304,286 shares during the period. Hedge funds and other institutional investors own 63.39% of the company’s stock.

About Solid Biosciences

Solid Biosciences Inc, a life science company, engages in identifying and developing therapies for duchenne muscular dystrophy (DMD) in the United States. The company's lead product candidate is SGT-001, an adeno-associated viral vector-mediated gene transfer, which is in a Phase I/II clinical trial to restore functional dystrophin protein expression in patients' muscles.

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Analyst Recommendations for Solid Biosciences (NASDAQ:SLDB)

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