JPMorgan Chase & Co. Cuts Solid Biosciences (NASDAQ:SLDB) Price Target to $12.00

Solid Biosciences (NASDAQ:SLDB) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $15.00 to $12.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 115.83% from the company’s previous close.

SLDB has been the subject of several other reports. William Blair upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Thursday, November 7th. Chardan Capital reiterated a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a research report on Monday. Finally, Barclays dropped their target price on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $15.14.

Solid Biosciences Trading Up 0.9 %

SLDB opened at $5.56 on Tuesday. The stock’s fifty day simple moving average is $6.67 and its 200 day simple moving average is $7.69. Solid Biosciences has a 1-year low of $2.10 and a 1-year high of $15.05. The stock has a market cap of $222.15 million, a PE ratio of -1.83 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.12). Equities analysts forecast that Solid Biosciences will post -2.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SLDB. The Manufacturers Life Insurance Company bought a new position in Solid Biosciences in the 3rd quarter valued at about $71,000. Point72 DIFC Ltd acquired a new position in Solid Biosciences during the second quarter valued at approximately $58,000. Ground Swell Capital LLC acquired a new position in Solid Biosciences during the second quarter valued at approximately $76,000. MetLife Investment Management LLC lifted its stake in Solid Biosciences by 129.1% during the third quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after purchasing an additional 7,719 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Solid Biosciences in the 2nd quarter valued at $82,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

About Solid Biosciences

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.