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

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been given an average recommendation of “Buy” by the six research firms that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $18.25.

Several research firms recently commented on SLDB. Barclays upped their price objective on Solid Biosciences from $8.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. William Blair restated an “outperform” rating on shares of Solid Biosciences in a research note on Thursday, March 28th. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a report on Thursday, March 14th. Citigroup started coverage on shares of Solid Biosciences in a research note on Friday, March 15th. They issued a “buy” rating and a $16.00 target price for the company. Finally, Piper Sandler raised shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $20.00 in a research report on Thursday, March 14th.

Solid Biosciences Stock Performance

NASDAQ SLDB opened at $8.70 on Monday. The company has a fifty day moving average price of $11.07 and a 200-day moving average price of $6.87. The firm has a market cap of $329.12 million, a price-to-earnings ratio of -1.80 and a beta of 1.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.94 and a quick ratio of 8.94. Solid Biosciences has a 1 year low of $1.81 and a 1 year high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Wednesday, March 13th. The company reported ($1.00) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.01. As a group, equities research analysts predict that Solid Biosciences will post -2.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Solid Biosciences

Several large investors have recently modified their holdings of SLDB. XTX Topco Ltd increased its holdings in shares of Solid Biosciences by 582.0% in the 1st quarter. XTX Topco Ltd now owns 197,756 shares of the company’s stock worth $237,000 after purchasing an additional 168,759 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Solid Biosciences by 108.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,268,575 shares of the company’s stock valued at $1,522,000 after acquiring an additional 660,747 shares during the period. State Street Corp boosted its holdings in shares of Solid Biosciences by 16.7% during the 1st quarter. State Street Corp now owns 1,075,937 shares of the company’s stock valued at $1,291,000 after acquiring an additional 153,862 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Solid Biosciences by 29.4% in the first quarter. Alyeska Investment Group L.P. now owns 1,319,245 shares of the company’s stock worth $1,583,000 after acquiring an additional 300,000 shares during the period. Finally, Mirabella Financial Services LLP purchased a new position in shares of Solid Biosciences during the first quarter valued at approximately $78,000. Hedge funds and other 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.