Solid Biosciences Inc. (NASDAQ:SLDB) Receives $14.90 Consensus PT from Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have earned a consensus recommendation of “Buy” from the thirteen analysts that are covering the stock, MarketBeat Ratings reports. Ten research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $14.90.

Several equities research analysts recently issued reports on SLDB shares. JPMorgan Chase & Co. dropped their price target on Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Cantor Fitzgerald restated an “overweight” rating and set a $16.00 price objective on shares of Solid Biosciences in a research note on Thursday, May 22nd. Piper Sandler decreased their price target on Solid Biosciences from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Wedbush decreased their target price on Solid Biosciences from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Friday, May 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $15.00 target price on shares of Solid Biosciences in a research note on Friday, June 6th.

Institutional Investors Weigh In On Solid Biosciences

Several hedge funds have recently bought and sold shares of SLDB. JPMorgan Chase & Co. raised its stake in shares of Solid Biosciences by 9,393.8% during the 4th quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock worth $3,824,000 after purchasing an additional 945,863 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Solid Biosciences by 12.7% during the 4th quarter. Renaissance Technologies LLC now owns 82,493 shares of the company’s stock worth $330,000 after purchasing an additional 9,281 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Solid Biosciences by 4.0% during the 4th quarter. Wellington Management Group LLP now owns 124,551 shares of the company’s stock worth $498,000 after purchasing an additional 4,747 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Solid Biosciences by 10.5% during the 4th quarter. Rhumbline Advisers now owns 43,677 shares of the company’s stock worth $175,000 after purchasing an additional 4,161 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Solid Biosciences by 71.3% during the 4th quarter. Prudential Financial Inc. now owns 109,105 shares of the company’s stock worth $436,000 after purchasing an additional 45,400 shares in the last quarter. 81.46% of the stock is owned by hedge funds and other institutional investors.

Solid Biosciences Stock Down 5.8%

Shares of SLDB opened at $4.51 on Friday. The business’s 50 day moving average is $3.50 and its two-hundred day moving average is $3.90. Solid Biosciences has a 52-week low of $2.41 and a 52-week high of $10.37. The firm has a market cap of $349.57 million, a price-to-earnings ratio of -1.51 and a beta of 2.22.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.06). On average, equities analysts expect that Solid Biosciences will post -2.84 earnings per share for the current fiscal year.

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.